QUESTION 1 The World Income Appreciation Fund has current assets with a market v

Question

QUESTION 1

The World Income Appreciation Fund has current assets with a market value of $3.9 billion and has 190 million shares outstanding. What is the net asset value (NAV) for this mutual fund?

QUESTION 2

The Madura HiGro Fund has a net asset value of $44 per share. It charges a 3.1 percent load. How much will you pay for 200 shares?

QUESTION 3

The World Income Appreciation Fund has current assets with a market value of $4.5 billion and has 130 million shares outstanding. The fund has a current market price quotation of $35.05. What is the front-end load in percentages?

Explanation / Answer

1) NAV = Market value of assets / shares outstanding = 3.9 billion / 190 million = $20.53 per share

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