The New Fund had average daily assets of $7.2 billion in the past year. If New...
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The New Fund had average daily assets of $7.2 billion in the past year. If New Fund's expense ratio was 1.10% and the management fee was 0.70%. a. What were the total fees paid to the fund's investment managers during the year? (Enter your answer in millions. Round your answer to 1 decimal place.) Fees paid million b. What were the other administrative expenses? (Enter your answer in millions. Round your answer to 1 decimal place.) Other administrative expenses million The New Fund had average daily assets of $7.2 billion in the past year. If New Fund's expense ratio was 1.10% and the management fee was 0.70%. a. What were the total fees paid to the fund's investment managers during the year? (Enter your answer in millions. Round your answer to 1 decimal place.) Fees paid million b. What were the other administrative expenses? (Enter your answer in millions. Round your answer to 1 decimal place.) Other administrative expenses million
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a Expense Ratio The fund house levies a fee on investors for managing their money Along with money h... View the full answer
Related Book For
Federal Taxation 2016 Comprehensive
ISBN: 9780134104379
29th edition
Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson
Posted Date:
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