How Much Money Would You Need to Purchase 400 Shares

question 24

Multiple Choice

How much money would you need to purchase 400 shares of a mutual fund with an NAV of $55 per share and a 3% load?

• A) $22,000
• B) $21,450
• C) $23,200
• D) $22,660

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Definitions:

Annual Coupon

The yearly interest payment paid to bondholders, typically expressed as a percentage of the bond's face value.

Face Value

The nominal or initial value stated on financial instruments like bonds or stock certificates, not necessarily equal to the market value.

Ontario Securities Commission

A regulatory body in Ontario, Canada, responsible for overseeing the capital markets within the province.

Bond Rating Services

Companies that evaluate the creditworthiness of both debt securities and their issuers, providing ratings that reflect the risk of default.