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05-06-2023
Business

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Consider a mutual fund with $300M in assets and 12M shares outstanding at the start of the year. If the gross return on assets is 18% and the total expense ratio is 2% of the year-end value, what is the rate of return on the fund?
a. 15.64%
b. 16.00%
c. 17.25%
d. 17.50%

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