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
Related questions
Question
![9 years ago Mary purchased shares in a certain mutual fund at Net Asset
Value (NAV) of $96. She reinvested her dividends into the fund, and today
she has 7.7% more shares than when she started. If the fund's NAV has
increased by 39.5% since her purchase, compute the rate of return on her
investment if she sells her shares today.
Round your answer to the nearest tenth of a percent.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F98a95248-6313-4124-8c48-8cf374831d55%2Ff10d98d8-a9ab-462f-af32-a1e96ac4b3c1%2Fogtc2a_processed.png&w=3840&q=75)
Transcribed Image Text:9 years ago Mary purchased shares in a certain mutual fund at Net Asset
Value (NAV) of $96. She reinvested her dividends into the fund, and today
she has 7.7% more shares than when she started. If the fund's NAV has
increased by 39.5% since her purchase, compute the rate of return on her
investment if she sells her shares today.
Round your answer to the nearest tenth of a percent.
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