You Have $16,000 to Invest in a Mutual Fund with a NAV

question 59

Multiple Choice

You have $16,000 to invest in a mutual fund with a NAV = $45. You choose a fund with a 4 percent front load,a 1 percent management fee,and a 0.25 percent 12b-1 fee. Assume that the management and 12b-1 fees are charged on year-end assets. The gross annual return on the fund's shares was 9 percent. What was your net annual rate of return to the nearest basis point?

• A)3.33 percent
• B)7.64 percent
• C)6.25 percent
• D)4.52 percent
• E)4.64 percent

Identify the significance of peer groups and social support systems in adolescent development.

Understand the process of socialization across different stages of human development.

Grasp the importance of self-concept and self-esteem in personal development across the lifespan.

Acknowledge the challenges and issues related to aging, including retirement and the prevalence of diseases in elderly populations.

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Definitions:

Historical Rate

A foreign exchange rate used to evaluate assets or liabilities, denoting the rate at a specific past date.