Problem 12.11

You invested in the no-load Best Mutual Fund one year ago by purchasing 1,000 shares of the fund at the net asset value of $20.00 per share. The fund distributed dividends of $1.00 and capital gain of $1.50. Today, the NAV is $21.00. What was your holding period return?

Problem 12.12

Refer the problem 12.11. If Best was a load fund with a 2.5% front - end load, what would be the HPR?