Question

Consider a mutual fund with 171 million dollars in assets at the start of the year, and 20 millon shares outstanding. If the gross annual return last year was 14.8 percent, and the fund charges a total expense ratio of 1 percent of end-of-year value, what is the net return to investors?

Answer 1

Answer:$23598000

Step-by-step explanation:

14.8% of 171,000,000= 25,308,000

Less 1% of 171,000,000= 1,710,000

= ......... .