a. You expect a tax-free municipal bond portfolio to provide a rate of return of 4.1%. Management fees of the fund are 0.61%. What fraction of portfolio income is given up to fees? (Round your answer to 1 decimal place.)

b. If the management fees for an equity fund also are 0.61%, but you expect a portfolio return of 13.0%, what fraction of portfolio income is given up to fees? (Round your answer to 1 decimal place.)

c. For which fund might management fees be a bigger factor in your investment decision? multiple choice

Bond fund

Equity fund

which is the answer

question 2.

An open-end fund has a net asset value of $13.50 per share. It is sold with a front-end load of 5%. What is the offering price? (Round your answer to 2 decimal places.)