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15-05-2023
Business

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The Nortons invested $137,500.00 in the Washington Real Estate Mutual Fund (Type "B"). The NAV of the fund at the time of purchase was $55.00 and was back loaded with a loading rate of 3.25%. When the Nortons sold their fund shares, the NAV was $59.95. a. How many shares did the Nortons buy? b. What was the amount of the sale (# of shares X selling price)? c. How much was the back-loading charge? d. What was the net selling price? e. How much profit (or loss) did the Nortons make on their investment?

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