QUESTION 20 The KSWL mutual fund has $70 million in assets at the...
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Finance
QUESTION 20
The KSWL mutual fund has $70 million in assets at the beginning of the year and 1 million shares outstanding throughout the year . The fund imposes a 1.5% expense ratio on asset values at the end of the year. Assume that throughout the year, assets grow at 2%.. and no distributions are paid to investors. What is the end of year NAV for the fund?
Options
a) $70.33
b) $70.43
c) $70.71
d) $70.81
e) None of the above
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