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On January 2nd, the assets and prices at 4 PM are: Stock Shares owned Price Cisco Systems 3,000 $55.00 Deere & Co. 2,050 $120.00 eBay
On January 2nd, the assets and prices at 4 PM are:
Stock | Shares owned | Price |
Cisco Systems | 3,000 | $55.00 |
Deere & Co. | 2,050 | $120.00 |
eBay Inc. | 15,000 | $20.00 |
Ford Motor | 6,400 | $20.00 |
Macy's Inc. | 5,000 | $50.40 |
Question: The same investor decides to redeem all fund shares that he/she has bought on January 1st and submits an order to redeem before 4 PM on January 2nd. Assume that the fund also charges 1% back-end load. What is this investors one-day rate of return?
a) -12.88%
b) 1.65%
c) -15.43%
d) -9.25%
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