You invested $7,000 in a mutual fund 28 months ago when the NAV of the fund was $22.30.You have not acquired or sold any shares since that time.Today,the NAV is $21.50.The fund charges a contingent deferred sales charge of 6,5,4,3,2,2,and 1 percent if the shares are redeemed within the first 7 years,respectively.How much money will you receive if you redeem your shares today?
A) $6,178.86
B) $6,275.23
C) $6,355.00
D) $6,478.92
E) $6,508.91
Correct Answer:
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