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Bob decides to make an investment of $1,000,000 in Big Red Mutual Fund. This funds has...

Bob decides to make an investment of $1,000,000 in Big Red Mutual Fund. This funds has an expense ratio of 1 percent and charges 2 percent (12b-1) and 3 precent in a back-end load for the fund. The fund earns 9 percent on the portfolio before the costs that have been mentioned. How much will Bob receive if he redeems his shares at the end of the year

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