You Invested $3,000 in a Mutual Fund Just Slightly Less

Multiple Choice

You invested $3,000 in a mutual fund just slightly less than four years ago when the NAV of the fund was $12.50. Today, the NAV has risen to $15.40. Over the four years, you obtained an additional 31.52 shares by reinvesting your fund distributions. The fund has no front-end load, but charges a contingent deferred sales charges of 6% the first year with the percentage of the charge decreasing by 1% each year. How much money will you receive if you redeem your shares today?

A) $4,008.13
B) $4,196.76
C) $4,055.97
D) $4,014.35
E) $4,582.18