Question
A no-load mutual fund had NAV per share of $22.00 on January 1. On December 31 of the same year the fund's NAV was $26.75.
A no-load mutual fund had NAV per share of $22.00 on January 1. On December 31 of the same year the fund's NAV was $26.75. Income distributions were $1.05 and the fund had capital gain distributions of $1.95.
Without considering taxes and transactions costs, what rate of return did an investor receive on the fund last year?
Step by Step Solution
3.46 Rating (159 Votes )
There are 3 Steps involved in it
Step: 1
To calculate the rate of return for the mutual fund we need to take into a...
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
Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
