As part of his 401(k) retirement plan at work, Ken Lowery invests 5 percent of his salary

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As part of his 401(k) retirement plan at work, Ken Lowery invests 5 percent of his salary each month in the Capital Investments Lifecycle fund. At the end of this year, Ken’s 401(k) account has a dollar value of $36,400. If the fund charges a 12b-1 fee of 0.75 percent, what is the amount of the fee?

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Focus On Personal Finance

ISBN: 9780077861742

5th Edition

Authors: Jack R. Kapoor, Les R. Dlabay Professor, Robert J. Hughes, Melissa Hart

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