Answered step by step
Verified Expert Solution
Question
1 Approved Answer
You invested in a mutual fund at the beginning of the year when the NAV was $56.21. At the end of the year, the fund
You invested in a mutual fund at the beginning of the year when the NAV was $56.21. At the end of the year, the fund paid $0.34 in short-term distributions and $0.51 in long-term distributions. If the NAV of the fund at the end of the year was $60.84, what the dollar return for each share you bought?
A) $4.48
B) $5.48
C) $7.48
D) $6.48
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