FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

As part of his 401(k) retirement plan at work, Ken Lowery invests 5.50 percent of his salary each month in the Capital Investments Lifecycle Fund.

As part of his 401(k) retirement plan at work, Ken Lowery invests 5.50 percent of his salary each month in the Capital Investments Lifecycle Fund. At the end of this year, Kens 401(k) account has a dollar value of $210,600. If the fund charges a 12b-1 fee of 0.60 percent, what is the amount of the fee?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Funds Private Equity Hedge And All Core Structures

Funds Private Equity Hedge And All Core Structures

Authors: Matthew Hudson

1st Edition

1118790405, 978-1118790403

More Books

Students also viewed these Finance questions

Question

★★★★★
Prime Company holds 80 percent of Lane Company's stock, acquired on January 1, 20X2, for $160,000. On the date of acquisition, Lane reported retained earnings of $50,000 and $100,000 of common stock...

Answered: 1 week ago

Question

★★★★★
What is the interpretation of the direct-labor rate variance? What are some possible causes?

Answered: 1 week ago

Question

★★★★★
Imagine that you work for a painting company and you received an RFP from the city asking you to submit a competitive proposal to paint the interior of the City Hall. What research should you do...

Answered: 1 week ago

Question

★★★★★
The following data were accumulated for use in reconciling the bank account of Commander Co. for March: a. Cash balance according to the companys records at March 31, $13,065. b. Cash balance...

Answered: 1 week ago

Question

★★★★★
As part of his 401(k) retirement plan at work, Ken Lowery invests 5.50 percent of his salary each month in the Capital Investments Lifecycle Fund. At the end of this year, Kens 401(k) account has a...

Answered: 1 week ago

Question

★★★★★
Net Corp. has an ROE of 20% and would like to see earnings grow at a 13.60% annual rate. What percentage of earnings can it afford to pay out as dividends?

Answered: 1 week ago

Question

★★★★★
The following is partial information for Xavier Companys most recent year of operation. Xavier manufactures childrens shoes and categorizes its operations into two divisions, Girls and Boys....

Answered: 1 week ago

Question

★★★★★
Use Eq. (15.10) to prove that \(J_{1}=L_{23}, J_{2}=L_{31}\), and \(J_{3}=L_{12}\). Data from Eq. 15.10 1 Ji J = - Eijk Ljk K = Loi,

Answered: 1 week ago

Question

★★★★★
Draw a timeline diagram for the sliding window algorithm with SWS = RWS = 3 frames for the following two situations. Use a timeout interval of about 2 RTT. (a) Frame 4 is lost. (b) Frames 46 are...

Answered: 1 week ago

Question

★★★★★
(a) Draw an example internetwork where the BIDIR-PIM route from a sources router to a group members router is longer than the PIM-SM source-specific route. (b) Draw an example where they are the same.

Answered: 1 week ago

Question

★★★★★
By using the diagram of rolling moment coefficients, explain why an airplane is laterally stable if its rolling moment coefficient is positive when the sideslip angle \(\beta\) is negative

Answered: 1 week ago

Question

★★★★★
8. Sometimes viewed as a Scandinavian tortilla, these potato flatcakes are often sold in areas with high Scandinavian American populations: a. Lefse b. Lutefisk c. Aquavit d. Fiskepudding

Answered: 1 week ago

Question

★★★★★
What is the relationship between humans?

Answered: 1 week ago

Question

★★★★★
What is the orientation toward time?

Answered: 1 week ago

Previous Question Next Question