Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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 $19.56

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 $19.56 per share. Because you did not need the income, you elected to reinvest all dividends and capital gains distributions. Today, you sell your 1,150 shares in this fund for 22.61 per share. What is the compounded rate of return on this investment over the three-year period? The compounded rate of return on this investment over the three-year period is nothing %.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

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

Step: 2

blur-text-image

Step: 3

blur-text-image

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

Advanced Accounting

Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik

10th edition

0-07-794127-6, 978-0-07-79412, 978-0077431808

Students also viewed these Finance questions