An Open-End Fund Has a NAV of $16

question 16

Multiple Choice

An open-end fund has a NAV of $16.50 per share. The fund charges a 6% load. What is the offering price?

• A) $14.57
• B) $15.95
• C) $17.55
• D) $16.49

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Definitions:

Evaluate

To assess or determine the value, significance, or condition of something typically in a detailed and systematic way.

Evaluate

The process of examining something to determine its value or worth, often in a careful and systematic way.

Accurate

Characterized by correctness and precision; free from errors or mistakes.

Cent

A monetary unit equal to one hundredth of a dollar or other unit of currency.