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daser333 [38]
3 years ago
7

You buy 100 shares in a no-load mutual fund at its net asset value of $10. during the year, the mutual fund distributes $0.75 in

dividends. you redeem the shares for their net asset value of $12.03, but the fund charges a 5.5 percent exit fee. what percentage return do you earn on the investment?
Business
1 answer:
Wittaler [7]3 years ago
5 0
<span>Sale Proceeds of Mutual Funds = 100 Shares * $12.03 = $1203 Add: Dividend Earned on shares = 100 Shares * $0.75= $75 Less: Purchase cost of shares = 100 Shares * $10 = $1000 Less: Exit fees = $1203*5.5% = $66.17 Net Income from Investment = $211.83 Earning in %= $211.83 / $1000 = 21.18%</span>
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