Question
The Laramie Fund is a no-load mutual fund with $300 million in assets and 12 million shares at the start of the year. The securities
The Laramie Fund is a no-load mutual fund with $300 million in assets and 12 million shares at the start of the year. The securities in the fund increased in value by 18% during the year. The fund's expense ratio is 2% and is deducted from year-end asset values. What is your rate of return on the fund if you sell your shares at the end of the year?
| A. | 15.64% | |
| B. | 16% | |
| C. | 17.25% | |
| D. | 17.5% |
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
Introduction To Derivatives And Risk Management
Authors: Robert Brooks, Don M Chance, Roberts Brooks
8th Edition
0324601212, 9780324601213
