You Invested $8,000 in a Mutual Fund When the Offering

question 80

Multiple Choice

You invested $8,000 in a mutual fund when the offering price was $32.50 and the NAV was $31.20. This purchase was made one year ago today. Today, the fund distributed a total of $1.67 in long-term gains and $0.82 in short-term gains. The current offering price is $33.42 and the NAV is $32.08. What is your return for the year?

• A) 4.35 percent
• B) 6.37 percent
• C) 7.58 percent
• D) 10.49 percent
• E) 10.80 percent

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Definitions:

Salivary Amylase

An enzyme found in saliva that begins the process of starch digestion by breaking down complex carbohydrates into simpler sugars.

Maltose

A disaccharide sugar made of two glucose units, commonly produced during the digestion of starch.

Isomaltose

A disaccharide consisting of two glucose molecules linked together, often produced during the digestion of starch.

Secretin

Secretin is a hormone produced by the S cells of the duodenum that stimulates the pancreas to release bicarbonate-rich fluids, aiding in the neutralization of stomach acid in the small intestine.