chapter 17 Q18

Estimating Returns. Hunter invested $4,700 in shares of a load mutual fund. The load of the fund is 6%. When Hunter purchased the shares, the NAV per share was $50. A year later, Hunter sold the shares at a NAV of $47 per share. What is Hunter's return from selling his shares in the mutual fund? Hunter's return from selling his shares in the mutual fund is %. (Round to two decimal places and include a negative sign where appropriate.)