A mutual fund has a front-end load of 6%. There is $10,500,000 in assets and$500,000 in outstanding liabilities and one million shares outstanding. Which of thefollowing statements would be true?a) NAVPS would be less than $10b) NAVPS would be $10Oc) NAVPS would be greater than $10d) NAVPS cannot be calculated

NAV is the amount the unit holder would received if the mutual fund were wound up. An investor in…

Answered: A mutual fund has a front-end load of…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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A mutual fund has a front-end load of 6%. There is $10,500,000 in assets and $500,000 in outstanding liabilities and one million shares outstanding. Which of the following statements would be true? a) NAVPS would be less than $10 b) NAVPS would be $10 greater than $10.