Matt Owns 724

question 5

Multiple Choice

Matt owns 724.08 shares of a fund which has a current NAV of $44.17. He has owned all of these shares for 3.3 years. The fund charges a contingent deferred sales charge which starts at 6 percent for the first year and declines by 1 percent each year. How much cash will he receive if he redeems all of his shares today?

• A) $29,396.63
• B) $29,709.36
• C) $30,334.82
• D) $30,647.55
• E) $31,023.14

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Definitions:

Neither

Indicates a situation or condition where none of the specified alternatives or options apply.

Cube Roots

The number that when multiplied by itself twice gives the original number. Symbolically, the cube root of \(x\) is \(x^{1/3}\).

Perfect Cube

A value that represents the result of cubing an integer.

Evaluate

Process of determining the value of an expression or function.