You invested $50,000 in a mutual fund last year. At the time you opened your account, the mutual fund shares had a NAV of $50. The fund charges a 2% front-end load and a 1% back-end load. During the course of your investment, you received $4.21 per share in dividends, which you reinvested in the fund at a price of $55.01/share. The fund's NAV was $53 at the time you closed your account.

Find the total number of shares you owned after you reinvested your dividends. Round intermediate steps to four decimals and your final answer to the nearest whole share.

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Answer rating: 100% (QA)

To find the total number of shares you owned after reinvesting your dividends well follow these step... View the full answer