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ikadub [295]
3 years ago
7

A sector fund specializing in commercial bank stocks had average daily assets of $3.7 billion during the year. This fund sold $1

.58 billion worth of stock during the year, and its turnover ratio was .42. How much stock did this mutual fund purchase during the year
Business
1 answer:
Alex_Xolod [135]3 years ago
7 0

Answer:

$1.554 billion

Explanation:

Turnover Ratio = Purchases / Average Inventory

0.42 = Purchases / $3.7 billion

Purchases = $3.7 billion * 0.42

Purchases = $1.554 billion

So, the value of stock that the mutual fund purchase during the year is $1.554 billion

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If your economics class were graded on a curve and everyone agrees to study only half as much, everyone would get the same grade
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1. How are people rational when they make choices?
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3 years ago
Consider the Northern California territory of Nova generates a sales revenue of $320,000 with four salespeople. The territory ac
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Answer: e)5% and $80,000

Explanation:

$320,000 was generated by the salespeople in this territory.

This territory comprises 10% of a $64 million market.

Territory comprises of = 10% * 64,000,000 = $6,400,000

Their market share is therefore;

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8 0
3 years ago
Frederickson Office Supplies recently reported $10,000 of sales, $7,250 of operating costs other than depreciation, and $1,250 o
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Answer:

c. $900

Explanation:

The computation of the earnings before taxes (EBT) is shown below:

= Sales - operating costs other than depreciation - depreciation expense - outstanding bonds × interest rate

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