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You pay $23,000 to the Laramie Fund, which has a NAV of $19 per share at...

You pay $23,000 to the Laramie Fund, which has a NAV of $19 per share at the beginning of the year. The fund deducted a front-end load of 4%. The securities in the fund increased in value by 10% during the year. The fund's expense ratio is 1.5% and is deducted from year-end asset values. What is your rate of return on the fund if you sell your shares at the end of the year?

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Answer page :O! - calculating rate of return by using values on the giren problem. Rate of return; (1-4.7.) ($ 23000X0.96) x1

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