Identify the mutual fund fee term that represents annual operating costs stated as a percentage of assets.
QUESTION
What is the formula for mutual fund offering price given NAV and a sales charge rate?
QUESTION
What is the definition of a sales charge (load) on a mutual fund purchase?
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ANSWER
A fee paid by the investor, typically a percentage of the offering price. This charge compensates the fund for distribution costs and is deducted from the investor's purchase amount.