Problem 17-06 The Global Growth Fund is a load fund with a 6 percent front load fee. It started the year with a net asset value (NAV) of $16.00. During the year the fund distributed $1.20, and at the end of the year its NAV was $17.40. What was the fund's return, and what was an investor's return? Round your answers to two decimal places.

The fund's return:____ %

Return on the individual's investment: ____%

Why are they different?

The answers are different because the fund reports its return based on the ___ and the investrors calculate their return based on the ___ .