You bought 70 shares of a mutual fund one year ago for $50 per share. The front-end load is 5 percent. The fund paid $2.00 per share in dividends during the year. If the fund's net asset value increased 15 percent during the year, what is the percent return for the year?

You bought 70 shares of a mutual fund one year ago for $50 per share. The front-end load is 5 percent. The fund paid $2.00 per share in dividends during the year. If the fund's net asset value increased 15 percent during the year, what is the percent return for the year?

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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You bought 70 shares of a mutual fund one year ago for $50 per share. The front-end load is 5 percent. The fund paid $2.00 per share
in dividends during the year. If the fund's net asset value increased 15 percent during the year, what is the percent return for the year?

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