Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

You invested $30,000 in a mutual fund at the beginning of the year when the NAV was $55.72. At the end of the year the

You invested $30,000 in a mutual fund at the beginning of the year when the NAV was $55.72. At the end of the year the fund paid $.28 in short-term distributions and $.45 in long-term distributions. If the NAV of the fund at the end of the year was $60.84, what was your return for the year?

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

Recommended Textbook for

Restaurant Financial Management

Authors: Hyung-il Jung

1st Edition

1774631431, 978-1774631430

More Books

Students also viewed these Finance questions