What is the fund turnover rate

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Reference no: EM131336930

1. You want to borrow $38,400 and can afford monthly payments of $960 for 48 months, but no more. Assume monthly compounding. What is the highest APR rate you can afford? Use financial calculator.

A. 9.24 percent

B. 8.67 percent

C. 8.82 percent

D. 9.01 percent

E. 9.18 percent

2. A mutual fund has $225 million dollars in assets, 22 million shares outstanding, and a total expense ratio of 0.52 percent. If during the past year the fund has bought and sold $185 million worth of assets, what is the fund's turnover rate?

Reference no: EM131336930

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