You invested $95,000 in a mutual fund at the beginning of the year when the NAV

ID: 2729462 • Letter: Y

Question

You invested $95,000 in a mutual fund at the beginning of the year when the NAV was $81.18. At the end of the year the fund paid $.41 in short-term distributions and $.58 in long-term distributions. If the NAV of the fund at the end of the year was $83.15, what was your return for the year? (Negative answer should be indicated by a minus sign. Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. Omit the "%" sign in your response.)

Return for the year %

Explanation / Answer

Return for the year = (Short-term distribution+Long-term distribution+Increase in NAV)÷Opening NV

= ($0.41+$0.58+$1.97)÷$81.18

= 3.65%

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You invested $95,000 in a mutual fund at the beginning of the year when the NAV

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