As part of his 401(k) retirement plan at work, Ken Lowery invests 5 percent of his salary
Question:
As part of his 401(k) retirement plan at work, Ken Lowery invests 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 $330,700. If the fund charges a 12b-1 fee of 0.75 percent, what is the amount of the fee?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (6 reviews)
Mr Lowery must pay a ...View the full answer
Answered By
PALASH JHANWAR
I am a Chartered Accountant with AIR 45 in CA - IPCC. I am a Merit Holder ( B.Com ). The following is my educational details.
PLEASE ACCESS MY RESUME FROM THE FOLLOWING LINK: https://drive.google.com/file/d/1hYR1uch-ff6MRC_cDB07K6VqY9kQ3SFL/view?usp=sharing
3.80+
3+ Reviews
10+ Question Solved
Related Book For
Focus On Personal Finance
ISBN: 9781265521974
7th Edition
Authors: Jack Kapoor, Les Dlabay, Robert J. Hughes, Melissa Hart
Question Posted:
Students also viewed these Business questions
-
As part of his privatization plan to reform Social Security, Nobel laureate Edward Prescott advocated that personal accounts be made mandatory in order to prevent rational individuals from...
-
As part of his job as cost analyst, Max Thompson collected the following information concerning the operations of the Machining Department: ________________Observation Machine-hours Total Operating...
-
As part of his review for a chemistry test, a student randomly selects (without replacement) 40 out of 102 elements listed on the standard tables, and tries to guess their atomic numbers. Given that...
-
E. Blood Flow Through the Kidneys Trace blood flow through the kidneys. Start at the renal artery and number the blood vessels in sequence. afferent arteriole arcuate artery arcuate vein efferent...
-
Substitute the following values for the indicated variables in the formula X2 = (Oi Ei)2 / Ei, and then solve for X2; O1 = 8, O2 = 15 O3 =12, E1 = 6.5, E2 =17.8, and E3 = 10.7. Round the result to...
-
The comparative financial statements of Automotive Solutions Inc. are as follows. The market price of Automotive Solutions Inc. common stock was $119.70 on December 31, 20Y8. Instructions Determine...
-
Discuss the seven stages of VM reviews.
-
The trial balance after one month of operation for Mason's Delivery Service as of September 30, 20--, is shown below. Data to complete the adjustments are as follows: (a) Supplies inventory as of...
-
The firm's production function tell you if a twofold (threefold, etc) increase in all inputs increases output by less than twofold (less than threefold, etc.). Based on this information answer the...
-
As chairman of the board of ASP Industries, you estimate that your annual profit is given by the table below. Profit (() is conditional upon market demand and the effort of your new CEO. The...
-
When Jill Thompson received a large settlement from an automobile accident, she chose to invest $140,000 in the Vanguard 500 Index Fund. This fund has an expense ratio of 0.14 percent. What is the...
-
Betty and James Holloway invested $71,000 in the Financial Vision Social Responsibility Fund. The management fee for this fund is 0.80 percent of the total asset value. Calculate the management fee...
-
A pressure cooker containing water is heated on a stove. Determine the interactions and signs (positive: 1; negative: -1; none: 0) of (a) Q (b) Wext, if any, as steam is released.
-
Write the code of function rio_get_remaining(rio_t * rp) which returns the number of unread bytes in the rio buffer. Write the code of function rio_get_read(rio_t * rp) which returns the number of...
-
Explain the relationship between concurrency and deadlock. In what ways does increased concurrency in a system contribute to the risk of deadlock, and what mechanisms can be employed to ensure that...
-
In R, write code for the following a) uniform distribution on between 0 and 1 b) exponential distribution at a rate of 0.3 Submit code as a .txt file
-
Determine the order of magnitude for method 1 implemented in java as below. This method sorts an array of integers in a descending order. Unlike the previous question, you do not need to count the...
-
Both firms are 100% equity-financed. Firm A can acquire firm B for $82,500 in the form of either cash or stock. The synergy value of the deal is $12,500. Number of Shares Price per Share Firm A...
-
During the most recent year, Judson Company had the following data associated with the product it makes: Units in beginning inventory .......................300 Units produced...
-
1. What are some current issues facing Saudi Arabia? What is the climate for doing business in Saudi Arabia today? 2. Is it legal for Auger's firm to make a payment of $100,000 to help ensure this...
-
Give an example of each kind of riskpersonal, property, and liability.
-
Define the following terms: a. Homeowners Insurance b. Household inventory c. Personal property floater d. Renters insurance
-
For each of the following situations, what amount would the insurance company pay? a. Wind damage of $835; the insured has a $500 deductible. b. Theft of a stereo system worth $1,150; the insured has...
-
During Year 1, Chung Corporation earned $6,900 of cash revenue and accrued $3,800 of salaries expense. Required: (Hint. Record the events in general ledger accounts under an accounting equation...
-
Prepare Cash Budget from Budgeted Transactions Prepare a cash budget for the month ended May 31, 2019. Campton Company anticipates a cash balance of $89,000 on May 1, 2019. The following budgeted...
-
The monthly salaries for December and the year-to-date earnings of the employees of Bush Consulting Company as of November 30 follow. Determine the amount of Medicare tax to be withheld from each...
Study smarter with the SolutionInn App