Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Mary buys 1,800 units of the Big Dinosaur Utility Fund when its NAV is $14.75. She reinvests the next 5 annual distributions of $0.60, $0.70,
Mary buys 1,800 units of the Big Dinosaur Utility Fund when its NAV is $14.75. She reinvests the next 5 annual distributions of $0.60, $0.70, $0.80, $0.95, and $1.05 and, immediately after the final distribution, then sells all of her units at the NAV of $18.75. The number of units she sold is 2,075. What annual compound return did Mary earn? (2 marks) You may need to use Excel to answer this question. Enter your answer as a percentage to two decimal places
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