You purchased 1,000 shares of the New Fund at an NAV of $27 per share at the beg

Question

You purchased 1,000 shares of the New Fund at an NAV of $27 per share at the beginning of the year. You paid a front-end load of 2%. The securities in which the fund invests increase in value by 11% during the year. The fund's expense ratio is 1.0%.

What is your rate of return on the fund if you sell your shares at the end of the year? (Do not round intermediate calculations. Round your answer to 2 decimal places. Omit the "%" sign in your response.)

You purchased 1,000 shares of the New Fund at an NAV of $27 per share at the beginning of the year. You paid a front-end load of 2%. The securities in which the fund invests increase in value by 11% during the year. The fund's expense ratio is 1.0%.

Explanation / Answer

rate of return is 11 - 2 - 1 = 8%

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