FundRobot » Best Funds » Lee Ray bought 130 shares of mutual fund with an NAV of $13.10. THis fund also has a load charge of 8.1/2%.?

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Default lee ray bought 130 shares of mutual fund with an nav of $13.10. this fund also has a load charge of 8.1/2%.

(A) What is the offer price and
(B) What did Lee pay for hid investment ?

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Default lee ray bought 130 shares of mutual fund with an nav of $13.10. this fund also has a load charge of 8.1/2%.

public offering price: NAV / (1 - load% in decimal form)

13.10 / (1 - 0.085) = $14.31694

Paid: 130 * 14.31694 = 1861.20

OR....

130 * 13.10 = $1703...<130 shares at NAV

Paid: 1,703 / ( 1 - 0.085) = $1,861.20

check math: 1861.20 * 0.085 = $158.20 load fee
1861.20 - 158.20 = $1703 invested in shares
1703 / 130 shares = $13.10 NAV per share
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