Multiple Choice
A mutual fund had average daily assets of $2.0 billion in 2009.The fund sold $500 million worth of stock and purchased $600 million worth of stock during the year.The fund's turnover ratio is ___.
A) 27.5%
B) 12%
C) 15%
D) 25%
E) 20%
Correct Answer:
Verified
Correct Answer:
Verified
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