Chegg 5 You invested $90,000 in a mutual fund last year. At the time you opened your account, the fund had a NAV of $20. The fund charges a 4% front- end load and a 2% back-end load. During the course of your investment, you received $4 per share in dividends, which you reinvested in the fund at price of $30/share. The fund's NAV was $19 at the time you closed your account. Find the total number of shares you owned after you reinvested your dividends.
Chegg 5 You invested $90,000 in a mutual fund last year. At the time you opened your account, the fund had a NAV of $20. The fund charges a 4% front- end load and a 2% back-end load. During the course of your investment, you received $4 per share in dividends, which you reinvested in the fund at price of $30/share. The fund's NAV was $19 at the time you closed your account. Find the total number of shares you owned after you reinvested your dividends.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:Chegg
5
You invested $90,000 in a mutual fund last year. At the time you opened
your account, the fund had a NAV of $20. The fund charges a 4% front-
end load and a 2% back-end load. During the course of your investment,
you received $4 per share in dividends, which you reinvested in the fund at
price of $30/share. The fund's NAV was $19 at the time you closed your
account. Find the total number of shares you owned after you reinvested
your dividends.
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