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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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