Five years ago, you invested in the Future Investco Mutual Fund by purchasing 1,300shares of the fund at the price of $17.05 per share. Because you did not need the income, you elected to reinvest all dividends and capital gains distributions. Today, you sell your 1,450 shares in this fund for $20.44 per share. If there were a 1% load on this fund, what would your rate of return be?
Five years ago, you invested in the Future Investco Mutual Fund by purchasing 1,300shares of the fund at the price of $17.05 per share. Because you did not need the income, you elected to reinvest all dividends and capital gains distributions. Today, you sell your 1,450 shares in this fund for $20.44 per share. If there were a 1% load on this fund, what would your rate of return be?
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 8FPE
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Five years ago, you invested in the Future Investco Mutual Fund by purchasing 1,300shares of the fund at the price of $17.05 per share. Because you did not need the income, you elected to reinvest all dividends and capital gains distributions. Today, you sell your 1,450 shares in this fund for $20.44 per share. If there were a 1% load on this fund, what would your rate of return be?
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