if the net asset value of a mutual fund is 3175 the frontend
if the net asset value of a mutual fund is $31.75, the front-end load is 5%, and the back end load is 5.5% find the purchase and sale price.
would the purchase price be $30.16?
would the sale price be $30.00?
Any help or enlightenment would be great.
Solution
front-ends ADD and back-ends DEDUCT ... 10% of 31.75 is 3.18 ...
cut in half 5% is 1.59 ... 1/2% is 16 cents => buy 31.57+1.59 = $33.16, sell $30
