Multiple Choice
A mutual fund had average daily assets of $4.7 billion in 2009.The fund sold $2.2 billion worth of stock and purchased $3.6 billion worth of stock during the year.The fund's turnover ratio is ____________.
A) 37.5%
B) 22.6%
C) 15.3%
D) 46.8%
E) 20.7%
Correct Answer:
Verified
Correct Answer:
Verified
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