What Would Be the Return on a $1000 Investment in a Mutual

question 31

Essay

What would be the return on a $1000 investment in a mutual fund whose NAV is $20? The fund has a 3 percent front-end load and,during the holding period,$400 of fund distributions are reinvested at a NAV of $25 (no load applied to reinvestment).The fund is ultimately sold at a NAV of $24.(Round to the nearest tenth of a percent.)

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Definitions:

Clams

Marine or freshwater mollusks with two shells of equal size that are connected by a hinge, often buried in sand or mud.

Plants

Living organisms belonging to the kingdom Plantae, characterized by photosynthesis, a process that converts light energy into chemical energy.

Insects

Small arthropods belonging to the class Insecta, characterized by a three-part body, compound eyes, and one pair of antennae.

Cenozoic

The current geological era, beginning 66 million years ago and marked by significant evolutionary developments.