Assume that the given mutual fund investment earns monthly returns that are reinvested and subsequently earn at the
same rate. Find the beginning value of the investment, first monthly return, or effective annual rate of return as indicated.
-$$\begin{array} { l l l }
\hline & \text { Number of } & \text { Monthly } \
\text { Beginning } & \text { Shares } & \text { Percentage } \
\text { NAV } & \text { Purchased } & \text { Return } \
\hline \$ 13.74 & 372 & 1.5 \% \
\hline
\end{array}$$ Find the beginning value of the investment.

Question

Assume that the given mutual fund investment earns monthly returns that are reinvested and subsequently earn at the
same rate. Find the beginning value of the investment, first monthly return, or effective annual rate of return as indicated.
-$$\begin{array} { l l l } 
\hline & \text { Number of } & \text { Monthly } \
\text { Beginning } & \text { Shares } & \text { Percentage } \
\text { NAV } & \text { Purchased } & \text { Return } \
\hline \$ 13.74 & 372 & 1.5 \% \
\hline
\end{array}$$ Find the beginning value of the investment.

Quizplus · Accepted Answer

The beginning value of the investment can be calculated by multiplying the beginning NAV (Net Asset Value) per share by the number of shares purchased. Given the NAV is $13.74 and 372 shares were purchased, the calculation is $13.74 * 372 = $5111.28.

Assume That the Given Mutual Fund Investment Earns Monthly Returns