Question
You pay $22,200 to the Laramie Fund, which has a NAV of $30 per share at the beginning of the year. The fund deducted a
You pay $22,200 to the Laramie Fund, which has a NAV of $30 per share at the beginning of the year. The fund deducted a front-end load of 4%. The securities in the fund increased in value by 10% during the year. The funds expense ratio is 1.0% and is deducted from year-end asset values. What is your rate of return on the fund if you sell your shares at the end of the year?
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Fundamentals of Corporate Finance
Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan
11th edition
77861701, 978-0077861704
