Mike Jackson invested a total of $15,600 in the New Colony Pacific Region mutual fund. The...
Mike Jackson invested a total of $15,600 in the New Colony Pacific Region mutual fund. The management fee for this particular fund is 0.50 percent of the total asset value. Calculate the management fee Mike must pay this year. (Round your answer to 2 decimal places.)
Management fee:
Homework Answers
Amount Invested = $15,600
Total Asset Value = Amount Invested
Total Asset Value = $15,600
Management Fee = 0.50% * Total Asset Value
Management Fee = 0.50% * $15,600
Management Fee = $78.00
So, Mike must pay management fee of $78.00 this year.
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