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If the offering price of an open-end fund is $13.40 per share and the fund is...

If the offering price of an open-end fund is $13.40 per share and the fund is sold with a front-end load of 6%, what is its net asset value? (Round your answer to 2 decimal places.) Net asset value $

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Answer #1

NAV-offering price (1-load%) NAV Offering price Load 12.60 13.40NAV-offering price * ( 1-load%) 4 -C6*(1-C7) 13.4 0.06 5 NAV Offering price Load 10

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