The High Growth Technology Fund Has an NAV of $54

question 47

Multiple Choice

The High Growth Technology Fund has an NAV of $54.08 and a 5.5 percent front-end load. What is the offering price?

• A) $50.84
• B) $51.36
• C) $57.23
• D) $57.53
• E) $57.81

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Definitions:

GIC

Guaranteed Investment Certificate, a Canadian investment that offers a guaranteed rate of return over a fixed period.

Maturity Value

The total amount that will be paid out or received at the end of a financial instrument's term, including principal and interest.

Semi-Annually Compounded

Interest on an investment or loan that is calculated and added to the principal balance twice a year.

Quarterly Compounded

Interest is added to the principal every three months, with subsequent interest calculations based on the resulting total.