A funds reported average return is 10% per year and it charges a 5% front-end load. An investor has $50,000 to invest with the fund for a 15-year horizon. What is the investors average return over the 15 years?

a. 9.5%

b. 28.74%

c. 9.62%

d. 5%

Which of the following statements is correct?

Open-end mutual funds are traded on the secondary market.

Closed-end funds' shares outstanding changes as investors purchase and sell shares in the fund.

Realized capital gains on shares held by the mutual funds get distributed to investors.

Short-term mutual fund investors prefer loads to12b-1 fees.