6 years ago Mary purchased shares in a certain mutual fund at Net Asset Value (NAV) of $51. She reinvested her dividends into the fund, and today she has 7.6% more shares than when she started. If the fund's NAV has increased by 47.2% since her purchase, compute the rate of return on her investment if she sells her shares today. Round your answer to the nearest tenth of a percent.

6 years ago Mary purchased shares in a certain mutual fund at Net Asset Value (NAV) of $51. She reinvested her dividends into the fund, and today she has 7.6% more shares than when she started. If the fund's NAV has increased by 47.2% since her purchase, compute the rate of return on her investment if she sells her shares today. Round your answer to the nearest tenth of a percent.

Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)

7th Edition

ISBN:9780357033609

Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Chapter13: Investing In Mutual Funds, Etfs, And Real Estate

Section: Chapter Questions

Problem 7FPE

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