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Five years ago, you invested in the Future Investco Mutual Fund by purchasing 1,400 shares of the fund at a net asset value of $17.75
Five years ago, you invested in the Future Investco Mutual Fund by purchasing 1,400 shares of the fund at a net asset value of $17.75 per share. Because you did not need the income, you elected to reinvest all dividends and capital gains distributions. Today, you sell your 1,650 shares in this fund for $21.53 per share. What is the compounded rate of return on this investment over the five-year period The compounded rate of return on this investment over the five-year period is \%. (Round to two decimal places.)
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