You purchased $3,200 worth of shares in a mutual fund that does not have a front-end load. However, there is a back-end load of 4 percent if you sell in the first year, and it decreases one percentage point per year. You sell $1,100 worth of shares in the third year. 

How much will your back-end load be?

Answer rating: 100% (QA)

Since there is a backend load on the mutual fund the amount of the load depends on how long the inve... View the full answer