Sub- Accounting You pay $23,600 to the Laramie Fund, which has a NAV of $31 per share at the beginning of the year. The fund deducted a front-end load of 6%. The securities in the fund increased in value by 10% during the year. The fund's expense ratio is 1.6% and is deducted from year-end asset values. What is your rate of return on the fund if you sell your shares at the end of the year? 1.75% 18.26% 14.78% 12.97%
Sub- Accounting You pay $23,600 to the Laramie Fund, which has a NAV of $31 per share at the beginning of the year. The fund deducted a front-end load of 6%. The securities in the fund increased in value by 10% during the year. The fund's expense ratio is 1.6% and is deducted from year-end asset values. What is your rate of return on the fund if you sell your shares at the end of the year? 1.75% 18.26% 14.78% 12.97%
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
100%
Sub- Accounting
You pay $23,600 to the Laramie Fund, which has a NAV of $31 per share at the beginning of the year. The fund deducted a front-end load of 6%. The securities in the fund increased in value by 10% during the year. The fund's expense ratio is 1.6% and is deducted from year-end asset values. What is your
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps
Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education