How is formula for value of open end fund is NAV/(1-LOAD)? Trying to understand how it is derived. Thanks

I haven’t got there yet but for an open end fund I think you have 2 formulas for front end funds offering price is NAv/1-load and that is because when you invest let’s say 100 dolars only 97 will be invested (3 are lets assume the front load) and that will increase you investment price for back end load funds redemption price is NAV(1-load) because they withold the load depending how many years ago you bought the investment Correct me please if I am wrong