Question

The Yamaha Aggressive Growth Fund has an expense ratio of 1.83 percent. If you invest $58,500 in this fund, what is the dollar amount of fees that you would pay this year? (Round your answer to 2 decimal places.)

Answer 1

$1070.55

Step-by-step explanation:

Expense ratio is the fee charged by fund managers for managing your investment.

so if you invest $58,500 assuming no return this year, the fee deductible would be simply 1.83% of $58,500

This amounts to $1070.55

Hope this helps.