Question
Consider a mutual fund with $300 million in assets at the start of the year and 12 million shares outstanding. If the gross return on
Consider a mutual fund with $300 million in assets at the start of the year and 12 million shares outstanding. If the gross return on assets is 18% and the total expense ratio is 2% of the year-end value, what is the rate of return on the fund?
| A | 15.64% |
| B | 16% |
| C | 17.25% |
| D | 17.5% |
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Financial Institutions Management
Authors: Anthony Saunders, Marcia Cornett
8th Edition
0078034809, 978-0078034800
