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Assume that the given mutual fund investment earns monthly returns that are reinvested and subsequently earn at the same rate. Find the beginning value of
Assume that the given mutual fund investment earns monthly returns that are reinvested and subsequently earn at the same rate. Find the beginning value of the investment, first monthly return, or effective annual rate of return as indicated.
Beginning NAV $8.75 Number of Shares Purchased 266
Monthly Percentage Return 1.9%
a) Find the beginning value of the investment. _________________________ b) Find the first monthly return. _________________________
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