Suppose you purchased 1,500 shares in the Global Horizons Eq…
Suppose you purchased 1,500 shares in the Global Horizons Equity Fund on March 3, 2023, at an offering price of $39.50 per share. The front-end load for this fund is 4 percent, and the back-end load for redemptions within one year is 1.5 percent. The underlying assets in this mutual fund appreciate (including reinvested dividends) by 9.2 percent during 2023, and you sell back your shares at the end of the year. If the operating expense ratio for the Global Horizons Equity Fund is 1.40 percent, what is your percentage rate of return from this investment? (Assume that the operating expense is netted against the fund’s return.)
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