Charge Load
Posted May 28, 2010
By admin
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.
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