<prompt> Human: The investment adviser said that the MER was calculated as a percentage of the income earned on the investment the income was 220 over 18 months. Everywhere Im looking online its saying that the MER is calculated as a percentage of the Assets Under Management, so I calculated the indirect MER cost to be 20,0001.691812 507. Am I going crazy here?? Or is the investment adviser just incompetent or confused? I suggested to my mom that she ask for a prospectus of the fund...  <response>: Your expense calculation is correct. The investment adviser is either dumb or intentionally being misleading.Tell your mom to read the long-term investing start-up kit link in the sidebar. 