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Five years ago, you invested in the Future Investco Mutual Fund by purchasing 1,400 shares...

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Finance

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Five years ago, you invested in the Future Investco Mutual Fund by purchasing 1,400 shares of the fund at the price of $18.66 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 $21.81 per share. If there were a 1.5% load on this fund, what would your rate of return be? The compounded rate of return on this investment over the three-year period is %. (Round to two decimal places.)

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