Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Assume that one year ago you bought 140 shares of a mutual fund for $14 per share, you received a $0.70 per-share capital gain distribution

Assume that one year ago you bought 140 shares of a mutual fund for $14 per share, you received a $0.70 per-share capital gain distribution during the past 12 months, and the market value of the fund is now $17. Ignoring tax, calculate the total return for this investment if you were to sell it now. (Round your answer to 2 decimal places. Omit the "%" sign in your response.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Accounting

Authors: Carl S. Warren, Christine Jonick, Jennifer Schneider

28th Edition

1337902683, 978-1337902687

Students also viewed these Finance questions