Five years ago, you invested in the Future Investco Mutual Fund by purchasing 1,100shares of the fund at a net asset value of $17.88 per share. Because you did not need the income, you elected to reinvest all dividends and capital gains distributions. Today, you sell your 1,450 shares in this fund for $21.96 per share. What is the compounded rate of return on this investment over the five-year period?
Five years ago, you invested in the Future Investco Mutual Fund by purchasing 1,100shares of the fund at a net asset value of $17.88 per share. Because you did not need the income, you elected to reinvest all dividends and capital gains distributions. Today, you sell your 1,450 shares in this fund for $21.96 per share. What is the compounded rate of return on this investment over the five-year period?
Essentials of Business Analytics (MindTap Course List)
2nd Edition
ISBN:9781305627734
Author:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson
Publisher:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson
Chapter2: Descriptive Statistics
Section: Chapter Questions
Problem 17P: Suppose that you initially invested 10,000 in the Stivers mutual fund and 5,000 in the Trippi mutual...
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Five years ago, you invested in the Future Investco Mutual Fund by purchasing 1,100shares of the fund at a net asset value of $17.88 per share. Because you did not need the income, you elected to reinvest all dividends and capital gains distributions. Today, you sell your 1,450 shares in this fund for $21.96 per share. What is the compounded rate of return on this investment over the five-year period?
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