Mary canfield purchased shares in the new dimensions global growth fund. this fund doesn’t charge a front-end load, but it does charge a contingent deferred sales load of 4.5 percent for any withdrawals during the first year. if mary withdraws $7,800 during the first year, how much is the contingent deferred sales load?

The correct answer is $351.

Explanation:

Mary purchased shares in a fund which does not charge a front end load but charges a contingent deferred sales load.

She withdrew an amount of $7,800 in the first year.

The rate is given at 4.5% of withdrawals.

Contingent deferred sales load

= Withdrawal amount Interest  rate

= $7,800 x 4.5%

=$7,800 x .045

= $351

So, the contingent deferred sales load is $351.

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