Francesca withdrew $7,000 from B shares that she owned in the Already Been Counted mutual fund within one year of her purchase. If she must pay a 5% contingent deferred sales fee, what amount will she actually receive?

Question

Quizplus · Accepted Answer

Francesca will have to pay a 5% contingent deferred sales fee on her withdrawal, which amounts to $350 (5% of $7,000). Therefore, she will receive $6,650 ($7,000 - $350) after the fee is deducted.

Francesca Withdrew $7,000 from B Shares That She Owned in the Already