Clark purchased 227 shares of a mutual fund with an offering price and NAV of $35.03 per share a year ago. Today, the NAV is $33.52 per share and the fund has just distributed $3.23 per share in long- term gains. What is Clark's rate of return? A. -4.31% B. 4.91% C. 5.13% D. 13.53% E. 14.29%

Clark purchased 227 shares of a mutual fund with an offering price and NAV of $35.03 per share a year ago. Today, the NAV is $33.52 per share and the fund has just distributed $3.23 per share in long- term gains. What is Clark's rate of return? A. -4.31% B. 4.91% C. 5.13% D. 13.53% E. 14.29%

Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)

7th Edition

ISBN:9780357033609

Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Chapter13: Investing In Mutual Funds, Etfs, And Real Estate

Section: Chapter Questions

Problem 7FPE

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Question

What is Clark's rate of return? General accounting

Clark purchased 227 shares of a mutual fund with an offering price
and NAV of $35.03 per share a year ago. Today, the NAV is $33.52
per share and the fund has just distributed $3.23 per share in long-
term gains.
What is Clark's rate of return?
A. -4.31%
B. 4.91%
C. 5.13%
D. 13.53%
E. 14.29%

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Please step by step solutions
Vinay
Subject:- finance
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