Two years ago, Marc invested $7,000 in theCall of Duty Mutual Fundwhich invests in gaming companies; he received 7,000 units. As of November 25, 2022, Marc's investment grew to $7.00/unit! Marc needed money to buy a PS5 and decided to sell 150 units. Marc is in the top marginal tax bracket. After taxes, deferred sales charges and commissions are paid,calculate the amount Marc will have remaining to buy his PS5 as he knows he needs around $700. Show calculations and explain

Note: Use the Declining Redemption Schedule below to determine the back-end load fee using the second year (the amount of the fee is based on the value of the fund when it is redeemed (sold)). Marc'sbroker charges a 2% commission on the sale after the Deferred Sales Charge is applied.

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Year funds are redeemed/sold Within the first year In the second year In the third year In the fourth year Declining Redemption Schedule In the fifth year In the sixth year After the sixth year Deferred Sales Charge 6% 5% 4% 3% 2% 1% 0% Year funds are redeemed/sold Within the first year In the second year In the third year In the fourth year Declining Redemption Schedule In the fifth year In the sixth year After the sixth year Deferred Sales Charge 6% 5% 4% 3% 2% 1% 0%

Answer rating: 100% (QA)

1 Calculate the value of the units Marc sold 150 units 700unit 105000 2 Determine the deferred ... View the full answer