Solved: Three years ago you invested in the future investco mutual, Accounting Basics

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Three years ago you invested in the future investco mutual

Question: Three years ago, you invested in the Future Investco Mutual Fund by purchasing 1,000 shares of the fund at a net asset value of $20.00 per share. Because you did not need the income, you elected to reinvest all dividends and capital gains distributions. Today, you sell your 1,100 shares in this fund for $22.91 per share. What is the compounded rate of return on this investment over the three-year period?

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Accounting Basics: Three years ago you invested in the future investco mutual

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