Step-by-step Instant Solution
Evans buys unit trusts and invests for income. He invested ?50,000 in a unit trust with an offer price of ?125 per unit, and sold the units after 5 years at ?162 per unit. During this period he received income from the units of ?6,200. This income was not reinvested in units.
(i) the number of units purchased
(ii) the excess of income over expenditure
Paper#9256861 | Written in 27-Jul-2016Price : $17.85