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Someone please help Three years ago, you invested in the Future Investco Mutual Fund by purchasing 1,000 shares of the fund at a net asset
Someone please help
Three years ago, you invested in the Future Investco Mutual Fund by purchasing 1,000 shares of the fund at a net asset value of $13.00 per share. Because you did not need the income, you elected to reinvest all dividends and capital gains distributions. Today, you sell your 1,100 shares in this fund for $14.45 per share. What is the compounded rate of return on this investment over the 3 -year period? Select one: a. 6.93% b. 22.27% c. 13.86% d. 3.47% e. 3.41%Step by Step Solution
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