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

question 7

Multiple Choice

The Exploratory Fund is a new closed-end fund which just offered its shares to the public.The fund raised $65 million and each share sold for $10.The fee for the fund promoter was 6.5 percent of the initial proceeds.What was the value of your initial $20,000 purchase before the shares began trading in the marketplace?

• A)$18,400
• B)$18,700
• C)$19,100
• D)$20,000
• E)$21,300

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Definitions:

Residential Tenancy

A legal agreement between a landlord and tenant for the rental of a living space, such as a house or apartment.

Absolute Right

A legal right that is complete and not contingent upon external conditions or restrictions.

Sublet

The act of leasing out a rented property by the original tenant to a third party.

Liable

Legally responsible or obligated to make amends for actions, damages, or debts.