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Vilka [71]
3 years ago
10

A customer has signed a Letter of Intent (LOI) to buy $25,000 of XYZ mutual fund to qualify for a breakpoint that reduces the sa

les charge from 7% to 6%. The customer deposits $15,000 into the fund over the next 13 months. At the end of 13 months, the NAV is $20,000. How much does the customer have to deposit to complete the LOI?
A. 0
B. $5,000
C. $10,000
D. $15,000
Business
1 answer:
Liono4ka [1.6K]3 years ago
6 0
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