Question: lent PART (LD): Problem Solving Question: 1) Consider a mutual fund with S300 million in assets at the start of the year and 12 million

lent PART (LD): Problem Solving Question: 1) Consider a mutual fund

lent PART (LD): Problem Solving Question: 1) Consider a mutual fund with S300 million in assets at the start of the year and 12 million shares outstanding. If the gross return on assets is 18% and the total expense ratio is 2% of the year-end value, what is the rate of return on the fund? (1.5 Marks)

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