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Problem 4-7 Front-End Load (LO2) An open-end mutual fund has the following stocks: Stock Shares Stock Price A 14,000 31,000 4,500 84,000 B C D $82 26 61 14 The fund has 56,000 shares and liabilities of $142,000. Assume the fund is sold with a front-end load of 3.25 percent. What is the offering price of the fund? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. Offering price

Problem 4-7 Front-End Load (LO2) An open-end mutual fund has the following stocks: Stock Shares Stock Price A 14,000 31,000 4,500 84,000 B C D $82 26 61 14 The fund has 56,000 shares and liabilities of $142,000. Assume the fund is sold with a front-end load of 3.25 percent. What is the offering price of the fund? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. Offering price

Essentials Of Investments
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
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Problem 4-7 Front-End Load (LO2) An open-end mutual fund has the following stocks: Stock Shares Stock Price A B C D 14,000 31,000 4,500 84,000 $ 82 26 61 14 The fund has 56,000 shares and liabilities of $142,000. Assume the fund is sold with a front-end load of 3.25 percent. What is the offering price of the fund? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. Offering price
Transcribed Image Text:Problem 4-7 Front-End Load (LO2) An open-end mutual fund has the following stocks: Stock Shares Stock Price A B C D 14,000 31,000 4,500 84,000 $ 82 26 61 14 The fund has 56,000 shares and liabilities of $142,000. Assume the fund is sold with a front-end load of 3.25 percent. What is the offering price of the fund? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. Offering price
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