Problemyou purchased 1000 shares of the new fund at an nav, Ask an Expert

Accounting

Problem:

You purchased 1,000 shares of the New Fund at an NAV of $27 per share at the beginning of the year. You paid a front-end load of 2%. The securities in which the fund invests increase in value by 11% during the year. The fund's expense ratio is 1.0%.

Required:

Question: What is your rate of return on the fund if you sell your shares at the end of the year?

Note: Show all workings.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91171799

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