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Last year your friend, who has not taken this investments class, invested $28 thousand into a fund with a 3.5% front-end load, a 1.4% annual expense ratio, and a NAV of $38.56 per share. The securities in the fund increased by 8.4 percent over the course of a year, and your friend sold the fund. What was your friend's rate of return on this investment?

Enter answer in percents, accurate to two decimal places.

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Financial Management, Finance

Category:- Financial Management
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