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Assume you invest $10,000 in Charles Fund. It expects to return 5% annually. Based on an operating expense of 1.15% on the average fund balance

Assume you invest $10,000 in Charles Fund. It expects to return 5% annually.

Based on an operating expense of 1.15% on the average fund balance for each year, calculate the operating expenses for three years.

Beginning Balance Annual Return Ending balance before expenses Average Balance

Operating

Expense

percentage

Operating

Expense

Ending

balance

after

expenses

$10,000 5% 1.15%
5% 1.15%
5% 1.15%

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