Y8

You invested

$85,000

in a mutual fund at the beginning of the year when the NAV was

$33.97

. At the end of the year, the fund paic

$0.39

in short-term distributions and

$0.56

in long-term distributions. If the NAV of the fund at the end of the year was

$30.13

, what was your return for the year?\\nNote: A negative value should be indicated by a minus sign. Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.\\nRate of return

Transcribed Image Text:

You invested $85,000 in a mutual fund at the beginning of the year when the NAV was $33.97. At the end of the year, the fund paid $0.39 in short-term distributions and $0.56 in long-term distributions. If the NAV of the fund at the end of the year was $30.13, what was your return for the year? Note: A negative value should be indicated by a minus sign. Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. Rate of return % You invested $85,000 in a mutual fund at the beginning of the year when the NAV was $33.97. At the end of the year, the fund paid $0.39 in short-term distributions and $0.56 in long-term distributions. If the NAV of the fund at the end of the year was $30.13, what was your return for the year? Note: A negative value should be indicated by a minus sign. Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. Rate of return %

Answer rating: 100% (QA)

There are two ways to approach this problem to find the ending value of your investment in the mutual fund Method 1 Using Share Price Changes Calculat... View the full answer