Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Estimating Returns.Hope invested $5,300 in a mutual fund at a time when the price per share was $12. The fund has a load fee of

Estimating Returns.Hope invested

$5,300

in a mutual fund at a time when the price per share was

$12.

The fund has a load fee of

$133.

As a result, she purchased

431

shares in the mutual fund. Hope later sold her shares in the mutual fund for

$16

per share. What would her return be? If it had been a no-load fund and she purchased

442

shares, what would her return be?

Part 2

Hope's return on the load fund would be

enter your response here%.

(Round to two decimal places.)

Part 3

Hope's return on the no-load fund would be

enter your response here%.

(Round to two decimal places.)

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

Students also viewed these Finance questions