How Much Money Would You Need to Purchase 400 Shares

question 62

Essay

How much money would you need to purchase 400 shares of a mutual fund with a NAV of $55 per share and a 3 percent load? (Round to the nearest dollar.)
(a)$22,000
(b)$22,680
(c)$23,200
(d)$22,660

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Definitions:

Glucagon

A hormone produced by the pancreas that raises blood glucose levels by promoting glycogen breakdown in the liver.

Hyperglycemia

An elevated level of glucose in the blood, often indicative of diabetes.

Hypoglycemia

A condition characterized by abnormally low blood sugar levels, which can cause symptoms like dizziness, sweating, and confusion.

Insulin-Dependent Diabetes Mellitus

Also known as Type 1 diabetes, a chronic condition where the pancreas produces little or no insulin.