Five years ago,you purchased 220.80 shares of a mutual fund.Since then,you have reinvested your fund dividends and acquired an additional 35.10 shares.The fund currently has an NAV of $37.60.The fund charges a contingent deferred sales charge of 5 percent for the first 2 years after which time the charge declines by 1 percent a year.How much money will you receive if you redeem all of your shares today?
A) $9,360.32
B) $9,429.40
C) $9,510.18
D) $9,633.75
E) $9,700.79
Correct Answer:
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