Question: 1. Betty and James Holloway invested $71,000 in the Financial Vision Social Responsibility Fund. The management fee for this fund is 0.60 percent of the total asset value. Calculate the management fee the Holloways must pay.
2. When Jill Thompson received a large settlement from an automobile accident, she chose to invest $146,000 in the Vanguard 500 Index Fund. This fund has an expense ratio of 0.17 percent. What is the amount of the fees that Jill will pay this year?