Question
The New Fund had average daily assets of $2.5 billion in the past year. The fund sold $403 million and purchased $503 million worth of
The New Fund had average daily assets of $2.5 billion in the past year. The fund sold $403 million and purchased $503 million worth of stock during the year. What was its turnover ratio? (Round your answer to 2 decimal places.)
Turnover ratio %
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Business Math
Authors: Cheryl Cleaves, Margie Hobbs, Jeffrey Noble
10th edition
133011208, 978-0321924308, 321924304, 978-0133011203
