Question
A mutual fund charges a 2.5% back-end load plus reports an annual expense ratio of 1.5%. If an investor plans on holding the fund for
A mutual fund charges a 2.5% back-end load plus reports an annual expense ratio of 1.5%. If an investor plans on holding the fund for 25 years, what is the average annual fee, as a percent, paid by the investor?
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Intermediate Financial Management
Authors: Eugene F. Brigham, Phillip R. Daves
8th Edition
0324258917, 9780324258912
