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

question 91

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 4.80 percent of the initial proceeds.What was the value of your initial $20,000 purchase before the shares began trading in the marketplace?

• A) $18,430
• B) $18,708
• C) $19,040
• D) $20,000
• E) $20,735

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