You Invested $2,000 in a Mutual Fund 20 Months Ago

Multiple Choice

You invested $2,000 in a mutual fund 20 months ago when the NAV of the fund was $18.90. You have not acquired or sold any shares since that time. Today, the NAV has risen to $19.40. The fund has no front-end load, but charges a contingent deferred sales charges of 5%, 5%, 4%, 3%, 2%, and 1% if the shares are redeemed within the first 6 years, respectively. How much money will you receive if you redeem your shares today?

A) $1,945.13
B) $1,950.26
C) $1,930.05
D) $1,972.35
E) $1,959.18