The World Income Appreciation Fund has current assets with a market value of $11

Question

The World Income Appreciation Fund has current assets with a market value of $11.2 billion, 420 million shares outstanding, and a current market price quotation of $28.08. Calculate the front-end load. (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. Omit the "%" sign in your response.)

The World Income Appreciation Fund has current assets with a market value of $11.2 billion, 420 million shares outstanding, and a current market price quotation of $28.08. Calculate the front-end load. (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. Omit the "%" sign in your response.)

Explanation / Answer

Front end load = ( $28.08 - $26.67 ) / $28.08 * 100

=1.41 / 28.08 * 100

= 5.02

Note:-  current assets with market value =$11.2 billion / 420 million shares = $26.67 per share

Front end load is the commission amount or sales fee charged at the time of purchase of Investment

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