Final answer:
To find the offering price for a no-load mutual fund, you need to subtract the Mutual Fund Expense Ratio (MER) from the Net Asset Value Per Unit (NAVPU). In this case, the offering price would be $18.62.
Step-by-step explanation:
The offering price for a no-load mutual fund can be calculated by subtracting the Mutual Fund Expense Ratio (MER) from the Net Asset Value Per Unit (NAVPU). In this case, the MER is 2% and the NAVPU is $19.00. To find the offering price, we need to subtract 2% of $19.00 from $19.00.
First, we calculate 2% of $19.00 by multiplying $19.00 by 0.02, which equals $0.38. Then, we subtract $0.38 from $19.00 to get the offering price. The offering price for the no-load mutual fund is $18.62.