Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Estimating Returns. Hunter invested $8,200 in shares of a load mutual fund. The load of the fund is 7%. When Hunter purchased the shares,
Estimating Returns. Hunter invested $8,200 in shares of a load mutual fund. The load of the fund is 7%. When Hunter purchased the shares, the NAV per share was $81. A year later, Hunter sold the shares at a NAV of $78 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 -4.65 %. (Round to two decimal places and include a negative sign where appropriate.)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
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