This is 80 yuan, who gets interest on bonds after maturity. Subtract 95 yuan's interest and divide it by the average income for nine years. Since the annual interest rate at that time was not given in the book, it was impossible to work it out step by step. This is just an example of calculating income, not for you to learn how to calculate income.
The average rate of return, also known as the average rate of return, refers to the ratio of the average annual net income of an investment project to the average investment amount of the project, that is, the average income after deducting income tax and depreciation during the whole project period divided by the average book investment amount. The average rate of return on stocks refers to the total rate of return divided by the number of stocks.
The average return rate of funds is the statistical value of the annualized average monthly return rate of funds, which is used to calculate the standard deviation of fund returns. The average rate of return is not exactly the same as the three-year annualized rate of return of the fund.
Open-end funds and closed-end funds are isomorphic, forming two basic modes of fund operation. Open-end fund refers to an investment fund whose scale is not fixed, but which can issue new shares or be redeemed by investors at any time according to market supply and demand. Closed-end fund is relative to open-end fund, which refers to the investment fund whose fund size has been determined before issuance and remains unchanged within the specified period after issuance. Before 2004, open-end funds were not listed and traded on the stock exchange, but were generally purchased and redeemed through consignment agencies such as banks or direct selling centers. After 2004, China innovated the operation mode of open-end funds, allowing some open-end funds to be listed and traded on the stock exchange. This kind of open-end fund is called listed open-end fund (LOF).
The scale of the fund is not fixed, and the fund unit can sell it to investors at any time or buy it back at the request of investors; Without duration, it can theoretically exist forever; The price is determined by the net asset value. Closed-end funds have a fixed duration, and the fund scale is fixed during the duration. Generally, they are listed and traded on the stock exchange, and investors buy and sell fund shares through the secondary market. You are not allowed to accept new shares and offer shares for a period of time before the new round of opening up. When opening up, you can decide how much you offer or how much you reinvest, and newcomers can also buy shares at this time; Generally, the opening time is 1 week and the closing time is 1 year; The price is determined by the relationship between supply and demand, and the net value of the fund will affect the fund price, but the two are not unified. Usually, closed-end funds trade at a discount.