Mr. Karan redeemed all the units of a mutual fund scheme at an NAV of Rs.20.5 by paying
an exit load of 1%. If he received Rs.40590 in this transaction, find the number of units he
redeemed.
Answers
Answer:
Exit load is a cost that an investor needs to bear if he or she sells the mutual fund units before a predefined time frame. Typically, equity mutual fund schemes levy an exit load of 1% if the units are sold within one year of buying. Simply put, it is a mechanism to deter investors from premature withdrawals.
Step-by-step explanation:
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Answer:
Exit load is a cost that an investor needs to bear if he or she sells the mutual fund units before a predefined time frame. Typically, equity mutual fund schemes levy an exit load of 1% if the units are sold within one year of buying. Simply put, it is a mechanism to deter investors from premature withdrawals.
Step-by-step explanation:
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