Question
The New Fund had average daily assets of $4.7 billion in the past year. If New Funds expense ratio was 0.75% and the management fee
The New Fund had average daily assets of $4.7 billion in the past year. If New Funds expense ratio was 0.75% and the management fee was 0.60%.
a. What were the total fees paid to the funds investment managers during the year? (Enter your answer in millions. Round your answer to 1 decimal place.)
b. What were the other administrative expenses?
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Focus On Personal Finance
Authors: Jack Kapoor, Les Dlabay, Robert J. Hughes
2nd Edition
0073530638, 9780073530635
