Five years ago, you invested in the Future Investco Mutual Fund by purchasing 1,000 shares of the fund at a net asset value of $17.19 per share. Because you did not need the income, you elected to reinvest all dividends and capital gains distributions. Today, you sell your 1,350 shares in this fund for $21.58 per share. What is the compounded rate of return on this investment over the five-year period? The compounded rate of return on this investment over the five-year period is %. (Round to two decimal places.)
Five years ago, you invested in the Future Investco Mutual Fund by purchasing 1,000 shares of the fund at a net asset value of $17.19 per share. Because you did not need the income, you elected to reinvest all dividends and capital gains distributions. Today, you sell your 1,350 shares in this fund for $21.58 per share. What is the compounded rate of return on this investment over the five-year period? The compounded rate of return on this investment over the five-year period is %. (Round to two decimal places.)
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:Five years ago, you invested in the Future Investco Mutual Fund by purchasing 1,000 shares of the fund at a net asset value of $17.19 per share. Because you did not need the income, you elected
to reinvest all dividends and capital gains distributions. Today, you sell your 1,350 shares in this fund for $21.58 per share. What is the compounded rate of return on this investment over the five-year
period?
The compounded rate of return on this investment over the five-year period is
%. (Round to two decimal places.)
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