Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Two years ago, you invested $1,000 by buying 125 shares ($8 per share NAV) in the Viking Mutual Fund, an aggressive growth, no-load mutual fund.

image text in transcribed

Two years ago, you invested $1,000 by buying 125 shares ($8 per share NAV) in the Viking Mutual Fund, an aggressive growth, no-load mutual fund. Last year, you added to your fund by doing two investments of $500 each (50 shares at $10 and 40 shares at $12.50). You reinvested all of your dividends so you could take advantage of compounding which you learned in chapter 2. So far, the NAV/share for your investment has risen from $8 per share to $13.25. What were the proceeds from your sale of the 60 shares? Type your answer here Round to the nearest cent. DO NOT INCLUDE COMMAS OR $. Hint Current Price x Shares Sold

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

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

Students also viewed these Finance questions