Question: 3) Consider a no-load mutual fund with the net asset value (NAV) of $10 at the start of the year. At the end of the

3) Consider a no-load mutual fund with the net asset value (NAV) of $10 at the start of the year. At the end of the year, the mutual fund has $288 million in assets with 24 million shares and its total expense ratio is 5%. I) What is the NAV at the end of the year? Please take into account the expense ratio. II) During the year, investors have received income distributions of $2 per share and capital gain distributions of $1.2 per share. What is the rate of return on the fund

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