You Purchased Shares of a Mutual Fund at a Price

Multiple Choice

You purchased shares of a mutual fund at a price of $12 per share at the beginning of the year and paid a front-end load of 4.75%. If the securities in which the fund invested increased in value by 9% during the year, and the fund's expense ratio was 1.5%, your return if you sold the fund at the end of the year would be

A) 4.75%.
B) 3.54%.
C) 2.65%.
D) 2.39%.