Asked by stefanie gacho on May 13, 2024
Verified
One year ago, Morgan invested $5,000 to purchase 400 units of a mutual fund. He has just noted in the Financial Post that the fund's rate of return on investment for the year was 22% and that the current price of a unit is $13.75. What amount did the fund distribute as income per unit during the year?
Rate of Return
The gain or loss on an investment over a specific period, expressed as a percentage of the investment's cost.
- Comprehend the methods for computing the overall rate of return on an investment.
Verified Answer
OA
Learning Objectives
- Comprehend the methods for computing the overall rate of return on an investment.