On January 1, 2007, you invest $20,000 in Libby Mutual Fund, a load fund that charges a fee of 2.5%. The fund's returns were 9% in 2007, 8% in 2008, and 3% in 2009. If you redeem all your shares on December 31, 2009, what is the dollar value?
A) $24,250.32
B) $24,000.32
C) $23,644.06
D) $23,195.17
E) $21,501.80
Correct Answer:
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