alleryStart learning →An investor redeems 1,000 units at NAV of $25 and pays a 2% back-end load. What does the investor receive?
A$25,000
B$25,500
C$24,000
D$24,500
Answer & Solution
Correct answer: D. $24,500
Gross proceeds are 25,000; the 2% load is 500, so the investor gets 24,500.
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