alyssa had an average of $12,000 invested in her no - load mutual fund this past year. the fund had a…

alyssa had an average of $12,000 invested in her no - load mutual fund this past year. the fund had a management fee of 1.5 percent and an additional 12b - 1 fee of 1.25 percent. how much did mutual fund fees cost alyssa last year?\na. $412.50\nb. $275.00\nc. $330.00\nd. $27.50

alyssa had an average of $12,000 invested in her no - load mutual fund this past year. the fund had a management fee of 1.5 percent and an additional 12b - 1 fee of 1.25 percent. how much did mutual fund fees cost alyssa last year?\na. $412.50\nb. $275.00\nc. $330.00\nd. $27.50

Answer

Explanation:

Step1: Calculate total fee percentage

Add management - fee and 12b - 1 fee percentages. $1.5%+1.25% = 2.75%=\frac{2.75}{100}=0.0275$

Step2: Calculate total fees

Multiply the average investment by the total fee percentage. $12000\times0.0275 = 330$

Answer:

C. $330.00$