Charge Load

Bill Roundy bought 800 shares of a mutual fund with a NAV of $14.10. This fund has a load charge of 3%?
A) What is the offer price?
B) What did Bill pay for the investment?
**This is a homework problem
When a mutual fund has a front-end load as suggested in this problem you need to add the load to the Net Asset Value (price at NAV) to get the public offering price or what you pay to buy into the fund.. So in this case add three percent to the NAV and that is your answer. The number of shares is irreverent information.
AR-MPR Phase II – Charging Cases with Redding 3-BR and Hornady Auto Charge
|
|
Gardner Bender #gbt-500a Battery Tester $6.99 Battery Tester, Tests 3V Lithium, 6V Photo Cells, 1.5V Nickel Cadmium, 1.5V “N” Cells, 1.5V Button Cells, 9V, 12V, 15V and 22.5V Lantern Cells, Standard Rechargeable “AAA”, “AA”, “C” and “D”, 1.5V Cells, Uses An Analog Type Meter With A 9 Position Rotary Selector Switch, Includes Test Leads and Instructions, One year manufacturer’s warranty…. |
|
|
Schumacher SSC-1500A Ship ‘n Shore SpeedCharge Charger with included battery clamps $46.54 Fully charges 12 Volt batteries in less time than conventional chargers. Built-in microprocessor senses battery and charging system status, adjusts charge rates and diagnoses problems. 5-year limited warranty…. |
|
|
Schumacher SC-10030A SpeedCharge Automatic Charger and Maintainer $84.95 The Schumacher SC-10030A SpeedCharge Battery Charger/Maintainer with 100-amp Engine Start is a versatile, fast and efficient battery charger/maintainer suitable for use with a variety of 6-volt and 12-volt lead-acid battery types used in everything from tractors, motorcycles, stand-up PWCs and snowmobiles, to those found in cars, trucks, SUVs and RVs. It features fully automatic microprocessor c… |
