A Mutual Fund Has $380 Million in Assets and an Offering

question 37

Multiple Choice

A mutual fund has $380 million in assets and an offering price of $64.10. If the fund has a front-end load of 3.5 percent, approximately how many shares of the fund are outstanding? This fund has no liabilities.

• A) 5,928,237
• B) 6,056,281
• C) 6,142,903
• D) 5,723,109
• E) 5,896,534

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