John purchased 150 shares of a mutual fund with an offering price and NAV of $42.15 per share a year ago. Today, the NAV is $40.30 per share, and the fund has just distributed $2.15 per share in long-term gains. What is John's rate of return?

John purchased 150 shares of a mutual fund with an offering price and NAV of $42.15 per share a year ago. Today, the NAV is $40.30 per share, and the fund has just distributed $2.15 per share in long-term gains. What is John's rate of return?

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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John purchased 150 shares of a mutual fund with an
offering price and NAV of $42.15 per share a year ago.
Today, the NAV is $40.30 per share, and the fund has
just distributed $2.15 per share in long-term gains.
What is John's rate of return?

Definition Definition Structural system an enterprise uses to collect, store, report, retrieve, and process financial data. Accounting information systems are used by business analysts, auditors, accountants, and consultants for accurate and efficient access to financial data.

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