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Question: Please do not copy from chegg. otherwise i have to report the answer. As part of his 401(k) retirement plan at work, Ken Lowery

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image text in transcribed Please do not copy from chegg. otherwise i have to report the answer.

As part of his 401(k) retirement plan at work, Ken Lowery invests 5.5 percent of his salary each month in the Capital Investments Lifecycle Fund. At the end of this year, Ken's 401(k) account has a dollar value of $210,700. If the fund charges a 12b-1 fee of 0.6 percent, what is the amount of the fee? (Round your answer to 2 decimal places.) 12b-1 fee

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