Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Five years ago, you invested in the Future Investco Mutual Fund by purchasing 1.000 shares of the fund at a net asset value of 317.03

image text in transcribed
Five years ago, you invested in the Future Investco Mutual Fund by purchasing 1.000 shares of the fund at a net asset value of 317.03 per share. Because you did not need the income, you elected to reinvest all dividends and capital gains distributions. Today, you sell your 1 , 250 shares in this fund for $20.29 per share. What is the compounded rate of return on this investment over the five-year period? The compounded rate of return on this irvestment over the five-year period is \%. (Round to two decimai places.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Recommended Textbook for

The Oxford Handbook Of Credit Derivatives

Authors: Alexander Lipton, Andrew Rennie

1st Edition

0199546789, 978-0199546787

More Books

Students also viewed these Finance questions