1)The Management Expense Ratio (MER) for mutual funds states how much you pay a fund in percentage terms every year to manage your money. As the percentage appears small, most do not notice it, but Canadians have the highest average MER's and these fees take a bite into returns. If you invested $15,000 in the Bank of Montreal BMO US Equity A mutual fund, how much are you paying the fund to manage your money? (Go to www.morningstar.ca, a great investment research site; find the mutual fund BMO US Equity A to respond to the mutual fund question.)

a)$500.00

b)$275.50

c)$373.50

d)$250.35

e)$150.75