A nutua lund was purchased on anuary 2nd 2015 when its NAV was $20.00. It was sold with a back-end load that commenced at 6% and declined by 1% for each year thereafter, with the load based on the NAV when sold. If the units were worth $24.00 in October 2018 when they were sold, how much the investor would receive ?

Answer rating: 100% (QA)

To calculate the amount the investor would receive when selling the mutual fund units in October 201... View the full answer