A mutual fund sold $58 million of assets during the year and purchased $64 million in assets. If the average daily assets of the fund were $216 million, what was the fund turnover? (Enter your answer as a percent rounded to 2 decimal places.) Fund turnover %

A mutual fund sold $58 million of assets during the year and purchased $64 million in assets. If the average daily assets of the fund were $216 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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Question

A mutual fund sold $58 million of assets during the year and purchased $64 million in assets. If the average daily assets of the fund
were $216 million, what was the fund turnover? (Enter your answer as a percent rounded to 2 decimal places.)
Fund turnover
%

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