$5.$ Mutual Fund Fees

You purchased $1,000$ shares of the New Fund at a price of $$39$ per share at the beginning of the

year. You paid a front$-$end load of $3\mathrm{.}4\%.$ The securities in which the fund invests increase in

value by $8\%$ during the year. The fund's expense ratio is $1\mathrm{.}4\%.$ What is your rate of return on the

fund if you sell your shares at the end of the year?