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sattari [20]
3 years ago
9

You purchased 1,000 shares of the New Fund at a price of $39 per share at the beginning of the year. You paid a front-end load o

f 3.4%. The securities in which the fund invests increase in value by 8% during the year. The fund's expense ratio is 1.4%. What is your rate of return on the fund if you sell your shares at the end of the year? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
Business
1 answer:
Agata [3.3K]3 years ago
7 0

Answer:

2.97%

Explanation:

cost of shares = (NAV0 × shares) ÷ (1 - FL)

                         = ($39 × 1,000) ÷ (1 - 0.034)

                          = 40,372.67

NAV1 = NAVo (1 + investment return - expense ratio)

= $39 × (1 + 0.08 - 0.014)

= 41.574

value of shares = NAV1 × Shares

                          = 41.574 × 1,000

                           = 41,574

Return = (value of shares ÷ cost of shares) - 1

           = (41,574 ÷ 40,372.67) - 1

           = 2.97%

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Kearney, Inc., makes kitchen tools. Company management believes that a new model of coffee grinder would sell well at a price of
IRINA_888 [86]

Answer:

$0.15 hours per unit

Explanation:

Given that

Direct material cost = $16

Assume Direct labor cost = X

Manufacturing overheads = $18

Profit margin = 20%

Direct labor per hour cost = $28

The computation of direct labor-hour input is shown below:-

Total manufacturing cost = X + $34

Total cost of goods sold = (X + $34) × 1.7 = $66

Direct labor cost per unit

= (X + $34) = $38.82

= $38.82 - $34

= $4.32

Direct labor hours per unit = Direct labor cost per unit ÷ Direct labor per hour cost

= $4.32 ÷ $28

= $0.15 hours per unit

3 0
4 years ago
The financial services department of your company offers a competitive leadership program. After screening and interviewing all
zmey [24]

Answer:

The correct answer is: Formal.  

Explanation:

<em>Leadership programs</em> within companies are provided to prospective employees who have the potential of following a managerial path career within the organization. They are possibly already seen as leaders within their departments but the training could help them whether to polish some of their skills or to learn how to better lead.  

Thus, invitation letters to the participants of leadership programs should be written following a <em>formal </em>coding.

5 0
3 years ago
To complete your degree and then go through graduate school, you will need $95,000 at end of each of the next 8 years. Your Aunt
VARVARA [1.3K]

Answer:

PMT = $95,000

Rate = 4%

Life = 8 years

a. Amount to be deposited today

= PV(Rate, N, -PMT)

= PV(4%, 8, -95,000)

= $639,610.76

b. Amount in account after 3rd withdrawal

= PV(Rate, N, -PMT)

= PV(4%, 5, -95,000)

= $422,913.12

c. Balance in account after 8th withdrawal

= = PV(Rate, N, -PMT)

= PV(4%, 0, -95,000)

= $0

d. How much would you have at the end of 8 years?

= FV(4%, 8, -639610.76)

= $875,351.49

5 0
3 years ago
Gail Schneeweis is a nurse at Central City Hospital. She is paid $33.62 per hour and has a 40-hour standard workweek. During the
fenix001 [56]

Answer:

Gail would make $6,062.4 after a 2 week and 90 hours job

3 0
3 years ago
Fragment Company is a wholesaler that sells merchandise in large quantities. Its catalog indicates a list price of $300 per unit
iren2701 [21]

Answer:

Recognized Sales Value = $18,000

Explanation:

Fragment company selling Price is $300/Unit

40% trade discount is offered for purchases of 50 units and more. That is, $300 x 40% = $120.

This implies anyone buying 50 or more will pay only $180/Unit ($300 - $120)

Customer Purchased 100 units

Sales terms is FOB, which implies Fragment is responsible for transportation costs of the products from his warehouse to the Port of Shipment including loading onto the ship. The Buyer will be responsible for Marine Freight expense, Insurance, Off-loading and shipment to his own warehouse

The $7 Per Unit indicated will account for inland transport to Port of shipment

Recognized Sales  =  100 units x $180 = $18,000

Cost of Haulage (Carriage outwards) is $7 x 100 units = $700

4 0
3 years ago
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