Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

9 years ago Mary purchased shares in a certain mutual fund at Net Asset Value (NAV) of $81. She reinvested her dividends into the fund,

9 years ago Mary purchased shares in a certain mutual fund at Net Asset Value (NAV) of $81. She reinvested her dividends into the fund, and today she has 7.6% more shares than when she started. If the fund's NAV has increased by 29.8% since her purchase, compute the rate of return on her investment if she sells her shares today.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Shrimply Inflation

Authors: Eiche Gardner

1st Edition

B0BYLXHYCY, 979-8386901233

More Books

Students also viewed these Finance questions