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You purchased 1,000 shares of the New Fund at a price of $20 per share at the beginning of the year. New Fund charges a
You purchased 1,000 shares of the New Fund at a price of $20 per share at the beginning of the year. New Fund charges a front-end load of 4%. The securities in which the fund invests increase in value by 12% during the year. The funds expense ratio is 1.2%. What is your rate of return on the fund if you sell your shares at the end of the year? There is no back-end load.
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