1).Fidelity Advisor Asset Manager (FEYAX) charges a 5.75% upfront load plus reports an expense ratio of 1.12%. If an investor plan on holding a fund for 25 years, what is the average annual fee, as a percent, A. 6.76% B.1.35%, C.0.27%, D.5.79%"
2).ZYC, Inc. wants to issue 10 million new shares of stock. An investment banker agrees to underwrite these shares on a best-effort basis. The investment banker is able to sell 8 million shares for $27 per share, and it charges XYZ $0.675 per share sold. Prior to its IPO, executives and original investors owned a total of 3 million shares of outstanding. The final first-dy closing price was $30.50.
What is the profit to the investment banker?
A. $6,750,000 B. $1,350,000 C.$5,400,000 D. $2,106,000
How much money does XYZ receive?
A.$270,000,000
B.$263,250,000
C.$210,600,000
D.$216,000,000
What was the market value of ZYC following its first day as a publicy-held company?
A. $244.0 million
B. $533.5 million
C. $297.0 million
D. $305.0