The ABC Class A share mutual fund has a NAV (net asset value) of $35.64 and an offer/purchase price of $37.81. Use this information to answer the following questions. You must show all work for full credit.
a. How many shares will you receive when you invest $10,000?
b. What is the percentage load?
c. What is the load charge, in dollars, for this transaction?
d. The fund in the above example is a front-end load fund. If it were a no-load fund, what three criteria must be met for a mutual fund to be considered a no-load fund?