Five years ago, you invested in the Future Investco Mutual Fund by purchasing 1,000 shares of the fund at a net asset value of $17.19 per share. Because you did not need the income, you elected to reinvest all dividends and capital gains distributions. Today, you sell your 1,350 shares in this fund for $21.58 per share. What is the compounded rate of return on this investment over the five-year period? The compounded rate of return on this investment over the five-year period is %. (Round to two decimal places.)

Five years ago, you invested in the Future Investco Mutual Fund by purchasing 1,000 shares of the fund at a net asset value of $17.19 per share. Because you did not need the income, you elected to reinvest all dividends and capital gains distributions. Today, you sell your 1,350 shares in this fund for $21.58 per share. What is the compounded rate of return on this investment over the five-year period? The compounded rate of return on this investment over the five-year period is %. (Round to two decimal places.)

Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)

7th Edition

ISBN:9780357033609

Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Chapter13: Investing In Mutual Funds, Etfs, And Real Estate

Section: Chapter Questions

Problem 7FPE

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