Question
7 years ago Clarissa purchased shares in a certain mutual fund at Net Asset Value (NAV) of $70. She reinvested her dividends into the fund,
7 years ago Clarissa purchased shares in a certain mutual fund at Net Asset Value (NAV) of $70. She reinvested her dividends into the fund, and today she has 7.9% more shares than when she started. If the fund's NAV has increased by 49.8% since her purchase, compute the rate of return on her investment if she sells her shares today.
Round your answer to the nearest tenth of a percent.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Elementary Statisitcs
Authors: Barry Monk
2nd edition
1259345297, 978-0077836351, 77836359, 978-1259295911, 1259295915, 978-1259292484, 1259292487, 978-1259345296
