If there were a 3​% load on this​ fund, what would your rate of return​ be?

Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)
7th Edition
ISBN:9780357033609
Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Chapter13: Investing In Mutual Funds, Etfs, And Real Estate
Section: Chapter Questions
Problem 8FPE
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Five years​ ago, you invested in the Future Investco Mutual Fund by purchasing 1,300shares of the fund at the price of $17.44 per share. Because you did not need the​ income, you elected to reinvest all dividends and capital gains distributions. ​ Today, you sell your 1,550 shares in this fund for ​$21.78 per share. If there were a
3​% load on this​ fund, what would your rate of return​ be?
 
 
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