Yamaha has expense ratio of 1.82%. If you make an investment of $57,000, you need to pay $1037.4 for the fees.
The expense ratio is the percentage that the investor need to pay for the operating of mutual fund and management cost.
The expense ratio calculates how much of a fund's assets are spent on administrative and other running costs. The expense ratio is subtracted from the gross return of the fund and paid to the fund manager by investors.
Mathematically,
Investor expense = expense ratio x invested fund
Data from the problem:
expense ratio = 1.82 %
Investment = 57,000
Hence,
Investor expense = 1.82% x 57,000
= $1037.4
Therefore, you should pay $1037.4 for the fees.
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