Net subscription and subscription amount = subscription amount /( 1+ subscription rate)

Subscription fee = net subscription amount × subscription rate

Subscription and subscription share = (subscription amount-subscription fee)/par value of fund share

Net subscription and subscription amount =1200/(1+1.5%)

= 1 182.27

Subscription and subscription fee =1182.27 *1.5% =17.73.

Subscription and subscription share = (1200-17.73)/1

= 1 182.27

The redemption rate is 0.5%

Redemption fee = share * net value * 0.5% =1182.27 *1* 0.5% = 59.11.

Finally, the money you can get back = share * net value-redemption fee =1182.27-59.11=123.26.