Question: 3. (20%) An open-end fund has a net asset value of $10.70 per share. It is sold with a front-end load of 6%. What is

3. (20%) An open-end fund has a net asset value of $10.70 per share. It is sold with a front-end load of 6%. What is the offering price? Alternatively, if the fund has an offering price of $10.70 per share, what is the NAV of this fund, namely, the dollar amount that is actually managed by the mutual fund

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