The total net asset value of the fund at the end of 2006 =4700-700=4000.

At the beginning of 2006, the net value of fund shares =4200/ 100=42.

Net fund share at the end of 2006 =4000/80=50.

Subscription price at the beginning of 2006 =42+0.2=42.2

Redemption price at the end of 2006 =

50-0. 15=49.85

The return rate of investors investing in the fund in 2006.

(50*9800-42* 10000)/(42* 10000)= 16.7%