A mutual fund has an offer price of $7.42 per share and a net asset value of $7.02. What is the sales charge percent? (Round to the nearest tenth)

Name: A mutual fund has an offer price of $7.42 per share and a net asset value of $7.02. What is the sales charge percent? (Round to the nearest tenth)
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Question

Quizplus · Accepted Answer

The sales charge percent is calculated as ((Offer Price - NAV) / Offer Price) * 100. So, ((7.42 - 7.02) / 7.42) * 100 = 5.4%, which rounds to 5.7%.

A Mutual Fund Has an Offer Price of $7