Question
This year Shelly invested $15,000 in a mutual fund with a 4% front end load and estimated annual expenses of 1.25%. The fund's gross return is 16.0%. What is Shelly's first year return net of loads and expenses if expenses are calculated against ending NAV?
The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.