The Emerging Fund Is a New Closed-End Fund Which Just

question 53

Multiple Choice

The Emerging Fund is a new closed-end fund which just offered its shares to the public. The fund raised $75 million and each share sold for $20. The fee for the fund promoter was 3.75% of the initial proceeds. What was the value of your initial $21,500 purchase before the shares began trading in the marketplace?

• A)$18,430
• B)$18,532
• C)$19,040
• D)$19,500
• E)$20,694

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Definitions:

Craving

A powerful desire for something, often used in the context of addictive substances.

Withdrawal

A set of symptoms that occur upon the discontinuation or decrease in intake of a substance that has been used regularly or in psychological contexts, the process of becoming emotionally detached.

Alcohol Dependence

A medical condition characterized by an impaired ability to stop or control alcohol use despite adverse social, occupational, or health consequences.

Tremors

Involuntary, rhythmic muscle movements involving oscillations or shaking of one or more body parts.