The Market Edge Mutual Fund charges a 3 percent back-end load. Todd invested $2,500 in this fund sixteen years ago. Today, the total NAV value of his shares is $9,948 so he decided to withdraw the entire amount and take a month's vacation to tour South America. How much did Todd receive when he made his withdrawal? O $9,948.00 O $10,246.44 O $9,873.00 O $10,023.00 O $9,649.56
The Market Edge Mutual Fund charges a 3 percent back-end load. Todd invested $2,500 in this fund sixteen years ago. Today, the total NAV value of his shares is $9,948 so he decided to withdraw the entire amount and take a month's vacation to tour South America. How much did Todd receive when he made his withdrawal? O $9,948.00 O $10,246.44 O $9,873.00 O $10,023.00 O $9,649.56
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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![The Market Edge Mutual Fund charges a 3 percent back-end load. Todd invested $2,500 in this fund sixteen years ago. Today, the
total NAV value of his shares is $9,948 so he decided to withdraw the entire amount and take a month's vacation to tour South
America. How much did Todd receive when he made his withdrawal?
O $9,948.00
O $10,246.44
O $9,873.00
O $10,023.00
O $9,649.56](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F15d4bd5a-5aec-4226-8111-77bf996698a8%2Fd3b738e2-99d6-4ece-aaa4-85c23d58bd8d%2Ft97iq3q_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The Market Edge Mutual Fund charges a 3 percent back-end load. Todd invested $2,500 in this fund sixteen years ago. Today, the
total NAV value of his shares is $9,948 so he decided to withdraw the entire amount and take a month's vacation to tour South
America. How much did Todd receive when he made his withdrawal?
O $9,948.00
O $10,246.44
O $9,873.00
O $10,023.00
O $9,649.56
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