Question
An investor buys shares in a mutual fund for $20. At end of the year the fund distributes a dividend of 0.58. After the distribution
An investor buys shares in a mutual fund for $20.
At end of the year the fund distributes a dividend of 0.58.
After the distribution net asset value of a share is 24.31.
What is the investor's percentage return on the investment?
The answer in the back of the book is 24.9% but I can not get this answer!
Please help by explaining the proper formula to use.
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Fundamentals of Investing
Authors: Scott B. Smart, Lawrence J. Gitman, Michael D. Joehnk
12th edition
978-0133075403, 133075354, 9780133423938, 133075400, 013342393X, 978-0133075359
