Answer:
$330.
Step-by-step explanation:
We have been given that Alyssa had an average of $12,000 invested in her no-load mutual fund this past year.
We are also told that fund had a management fee of 1.5% and an additional 12b-1 fee of 1.25%.
Since the base amount for both percentages is same, so to find the mutual fees last year, we need to find 2.75% of $12,000 as 1.5% and 1.25% add up-to 2.75%.
[tex]\text{Mutual fund fees last year}=\$12,000\times \frac{2.75}{100}[/tex]
[tex]\text{Mutual fund fees last year}=\$12,000\times 0.0275[/tex]
[tex]\text{Mutual fund fees last year}=\$330[/tex]
Therefore, the mutual fund fees cost Alyssa $330 last year.
