Multiple Choice
A mutual fund had average daily assets of $4.0 billion in 2009.The fund sold $1.5 billion worth of stock and purchased $1.6 billion worth of stock during the year.The fund's turnover ratio is ____________.
A) 37.5%
B) 22%
C) 15%
D) 45%
E) 20%
Correct Answer:
Verified
Correct Answer:
Verified
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