You purchased 3,500 shares of the New Fund at offering price of $28 per share...
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You purchased 3,500 shares of the New Fund at offering price of $28 per share at the beginning of the year. The purchase price you paid included a front-end load of 3%. The funds gross return was 12% during the year and the expenses ratio is 1.6%. Sales commission is charged at 0.5% of the sales proceeds. Calculate the holding period return of your investment in the Fund if you sell your shares at the end of the year. Show your calculation steps by steps clearly.
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