You pay $22,200 to the Laramie Fund, which has a NAV of $22 per share at the beginning of the year. The fund deducted a front-end load of 4%. The securities in the fund increased in value by 10% during the year. The fund's expense ratio is 1.2% and is deducted from year-end asset values. What is your rate of return on the fund if you sell your shares at the end of the year?

You pay $22,200 to the Laramie Fund, which has a NAV of $22 per share at the beginning of the year. The fund deducted a front-end load of 4%. The securities in the fund increased in value by 10% during the year. The fund's expense ratio is 1.2% and is deducted from year-end asset values. What is your rate of return on the fund if you sell your shares at the end of the year?

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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