Find the rate of return of the fund for the year


Consider a no-load mutual fund with a beginning of year NAV of $100/share and an end of year NAV of $102/share. During the year investors have received income distributions of $2/share, and capital gains distributions of $1/share. The fund had liabilities at the end of the year of $1/share and an operating expense ratio of 1%, what is the rate of return of the fund for the year?

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Finance Basics: Find the rate of return of the fund for the year
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