Your friend bought $7,000 worth of mutual funds with a redemption fee of 8 percent if she sells within the f year. It decreases 1 percent each year afterward. If she sells during the third year, how much will she pay in redemption fees? DO NOT INCLUDE DOLLAR SIGN.
Your friend bought $7,000 worth of mutual funds with a redemption fee of 8 percent if she sells within the f year. It decreases 1 percent each year afterward. If she sells during the third year, how much will she pay in redemption fees? DO NOT INCLUDE DOLLAR SIGN.
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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Your friend bought $7,000 worth of mutual funds with a redemption fee of 8 percent if she sells within the first
year. It decreases 1 percent each year afterward. If she sells during the third year, how much will she pay in
redemption fees?
DO NOT INCLUDE DOLLAR SIGN.
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