A mutual fund sold $158 million of assets during the year and purchased $132 million in assets. If the average daily assets of the fund were $496 million, what was the fund turnover? (Enter your answer as a percent rounded to 2 decimal places.) Fund turnover %
A mutual fund sold $158 million of assets during the year and purchased $132 million in assets. If the average daily assets of the fund were $496 million, what was the fund turnover? (Enter your answer as a percent rounded to 2 decimal places.) Fund turnover %
Essentials of Business Analytics (MindTap Course List)
2nd Edition
ISBN:9781305627734
Author:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson
Publisher:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson
Chapter2: Descriptive Statistics
Section: Chapter Questions
Problem 17P: Suppose that you initially invested 10,000 in the Stivers mutual fund and 5,000 in the Trippi mutual...
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![A mutual fund sold $158 million of assets during the year and purchased $132 million in assets. If the average daily assets of the fund
were $496 million, what was the fund turnover? (Enter your answer as a percent rounded to 2 decimal places.)
Fund turnover
%](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F98dabfc2-ebb4-4b6c-b967-261113535ee4%2F0e5e329e-9630-49e3-bfd8-883a3d1061c2%2Ffqhktdl_processed.png&w=3840&q=75)
Transcribed Image Text:A mutual fund sold $158 million of assets during the year and purchased $132 million in assets. If the average daily assets of the fund
were $496 million, what was the fund turnover? (Enter your answer as a percent rounded to 2 decimal places.)
Fund turnover
%
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