$65$

Multiple Choice $1\mathrm{.}5$ points

A mutual fund had average daily assets of $$2\mathrm{.}0$ billion in $2016.$ The fund sold $$500$ million worth of stock and purchased $$600$ million worth of stock during the year. The fund's turnover ratio is

$12\%.$

$25\%.$

$20\%.$

$15\%.$

$27\mathrm{.}5\%.$

Clear my selection