Answer:
The amount of management fee that Holloways will pay would be $426.
Explanation:
Mutual fund can be defined as a professionally managed investment fund scheme , which pools money from various investors like retailers, company's , institutions etc to trade in securities ( which means buying and selling of securities ).
Given information -
Investment made by Betty and James Hollways - $71,000
Management fees - .6%
Therefore the amount that holloway would pay is $71,000 x .6%
=$426
