Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Three years ago, James Matheson bought 300 shares of a mutual fund for $29 a share. During the three-year period, he received total income dividends

Three years ago, James Matheson bought 300 shares of a mutual fund for $29 a share. During the three-year period, he received total income dividends of 0.68 per share. He also received total capital gain distributions of $1.55 per share. At the end of three years, he sold his shares for $30 a share. What was his total return for this investment? Round your answer to the nearest whole dollar amount. Do not include the comma, period, and "$" sign in your response.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Analysis For Financial Management

Authors: Robert C. Higgins

12th International Edition

1260091910, 9781260091915

More Books

Students also viewed these Finance questions

Question

I still dont get planning packages and control accounts.

Answered: 1 week ago

Question

Identify ways to increase your selfesteem.

Answered: 1 week ago