Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

You purchased 1 , 0 0 0 shares of a mutual fund at an offer price of $ 1 3 . 8 8 per share.

You purchased 1,000 shares of a mutual fund at an offer price of $13.88 per share. Several months later you sold the shares for $14.62 per share.
During the time you owned the shares, the fund paid a dividend of $0.69 per share. What was your return on investment? Round to the nearest tenth.

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

American Public School Finance

Authors: William A. Owings, Leslie S. Kaplan

3rd Edition

113849996X, 978-1138499966

More Books

Students also viewed these Finance questions

Question

How would you approach this unit?

Answered: 1 week ago