(A)
Adequate information:
Opening NAV of the fund - $ 12
Closing NAV of the fund- $ 12.10
Income distributed during the year - $ 1.50
At the beginning of the year fund is selling at 2% premium
At the end of the year fund is selling at 7% discount
To compute:i)
Introduction:
Total return to the investor in fund during a particular period is the sum total of change in the selling price (i.e. NAV after premium or discount) of the fund during the period and income distributed during the period.
(B)
Adequate information:
Opening NAV of the fund - $ 12
Closing NAV of the fund- $ 12.10
Income distributed during the year - $ 1.50
At the beginning of the year fund is selling at 2% premium
At the end of the year fund is selling at 7% discount
To compute:rate of return to investor who held securities as fund manager
Introduction:
Total return to the investor in fund during a particular period is the sum total of change in the selling price (i.e. NAV after premium or discount) of the fund during the period and income distributed during the period.
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Chapter 4 Solutions
GEN COMBO LOOSELEAF INVESTMENTS; CONNECT ACCESS CARD
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Intermediate Accounting: Reporting And AnalysisAccountingISBN:9781337788281Author:James M. Wahlen, Jefferson P. Jones, Donald PagachPublisher:Cengage Learning