Hi @StormiSkies! Making mistakes is part of the learning process

The main point is that mutual funds are redeemed at the NAV, minus the redemption fee.

Facts in the question:

300 shares total

NAV of $10.35

Redemption fee of 0.25%

The NAV x shares = $3,105, as you had, but we still haven’t subtracted the redemption fee. The redemption fee is a fee the investor pays when they redeem the fee, so even if we make a mistake in the math calculating it, the amount they receive must be less than the total amount of $3,105.

100% - 0.25% = 99.75%, as you had. Multiplying the total amount ($3,105) by the percent the investor receives after paying the 0.25% fee (99.75%) gives you the amount they receive ($3,105 * .9975 = $3,097.2375).

Another way to think about it is that the redemption fee, expressed in dollars, is ($3,105 * .0025 = $7.7625). If you subtract that from the total amount, you end up with the same value ($3,105 - $7.7625 = $3097.2375).