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You invest in a mutual fund that charges 3.8% front-end load, 0.75% in total annual fees, and a 3% back-end load, which decreases 0.50% per year. You invested $1,000,000 on this mutual fund. What will be your rate of return if you cash out after 4 years of no gain? Enter your answer in the box below, round to two decimals. Enter your answer as a full percentage number, for example, if your answer is 10.55%, you must enter 10.55. Enter a negative number for losses.

You invest in a mutual fund that charges 3.8% front-end load, 0.75% in total annual fees, and a 3% back-end load, which decreases 0.50% per year. You invested $1,000,000 on this mutual fund. What will be your rate of return if you cash out after 4 years of no gain? Enter your answer in the box below, round to two decimals. Enter your answer as a full percentage number, for example, if your answer is 10.55%, you must enter 10.55. Enter a negative number for losses.

Essentials Of Investments
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
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You invest in a mutual fund that charges 3.8% front-end load, 0.75% in total annual fees, and a 3% back-end load, which decreases 0.50% per year. You invested $1,000,000 on this mutual fund. What will be your rate of return if you cash out after 4 years of no gain? Enter your answer in the box below, round to two decimals. Enter your answer as a full percentage number, for example, if your answer is 10.55%, you must enter 10.55. Enter a negative number for losses.
Transcribed Image Text:You invest in a mutual fund that charges 3.8% front-end load, 0.75% in total annual fees, and a 3% back-end load, which decreases 0.50% per year. You invested $1,000,000 on this mutual fund. What will be your rate of return if you cash out after 4 years of no gain? Enter your answer in the box below, round to two decimals. Enter your answer as a full percentage number, for example, if your answer is 10.55%, you must enter 10.55. Enter a negative number for losses.
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