Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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The New Fund had average daily assets of $3.9 billion last year. The fund sold $540 million worth of stock and purchased $680 million during the year.
What was its turnover ratio? (Round your answer to 1 decimal place.)
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- Bank ZLX is marketing their new fund by noting that a fixed $320 monthly deposit in their fund should be expected to net $1,900,000 in 35 years. Assume the first deposit is made at the end of this month. What effective annual rate (EAR) is Bank ZLX expecting their new fund to return?arrow_forwardGrand Bank is a mature bank, in stable growth. The bank is expected to report net income of $107 million and pay dividends of $70 million next year. If the book value of equity at the bank is $848 million, and the cost of equity is 9.07%, estimate the value of equity in the book todayarrow_forwardLast year your friend, who has not taken this investments class, invested $23 thousand into a fund with a 3.4% front-end load, a 1.5% annual expense ratio, and a NAV of $34.86 per share. The securities in the fund increased by 11.5 percent over the course of a year, and your friend sold the fund. What was your friend's rate of return on this investment? Enter answer in percents, accurate to two decimal places.arrow_forward
- The New Fund had average daily assets of $3.8 billion in the past year. New Fund's expense ratio was 1.3%, and its management fee was 0.8%. Required: a. What were the total fees paid to the fund's investment managers during the year? (Enter your answer in millions rounded to 2 decimal places.) Total fees paid million b. What were the other administrative expenses? (Enter your answer in millions rounded to 2 decimal places.) Other administrative expenses millionarrow_forwardA company deposited $5,500 into an investment fund at the beginning of every quarter for 6 years. It then stopped making deposits into the fund and allowed the investment to grow for 6 more years. The fund was growing at 5.25% compounded monthly. a. What was the accumulated value of the fund at the end of 6 years? Round to the nearest cent b. What was the accumulated value of the fund at the end of 12 years? Round to the nearest cent c. What was the amount of interest earned over the 12-year period? Round to the nearest centarrow_forwardAt the beginning of the year, an investment fund was established with an initial deposit of 500 . A deposit 1000 is made at the end of each month for the first six months. Starting from theend of month 7, a withdrawal of 300 is made at the end of each month for 5 months for a total of 5 withdrawals. The amount in the fund at the end of the year is 12,500. Calculate the dollar-weighted(money-weighted) yield rate earned by the fund during the year.arrow_forward
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