Homework Answers
Money Invested = $22,000
Front End Load = 4.6% of $22,000 = $1012
Actual Investment after deducting front end load = $22,000 - $1012 = $20,988
Increment in Protfolio after 1 year = 10.2% of $20.988 = $2140.776
Protfolio value after 1 year = $20,988 + $2140.776 = $23,128.776
Annual Expense = 1.9% of $23,128.776 = $439.447
Net Protfolio value after 1 year after deducting expenses = $23,128.776 - $439.447 = $22,689.33
Increment in Protfolio after 2 years = 10.2% of $22,689.33 = $2314.31
Protfolio value after 2 years = $22689.33 + $2314.31 = $25,003.64
Annual Expense = 1.9% of $25,003.64 = $475.07
Net Protfolio value after 2 years after deducting expenses = $25,003.64 - $475.07 = $24,528.57
Total Profit = $24,528.57 - $22,000 = $2,528.57
Investor's total holding period return = (Total Profit / Money Invested) x 100 = (2528.57/22000) x 100 = 11.49%
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