And in making these calculations, Mr Malkiel plays fair: he deducts the typical running expense (one-fifth of 1%) charged by an index fund.
The research gives evidence that Visual Arts whose advertising expenses are one third of program service expenses, are profitable despite of the financial crisis.
In addition, COPD patients experienced an annual direct economic burden of 1,090 yuan as a result of medical expenses, accounting for one third of their families' incomes.
Here we define costs as the sum of annual expenses and one-fifth the average bid/ask spread we observed on a recent trading day.
A new T-14 Armata main battle tank costs the Russian government around $3.7 million; again, about one third the expense of a NATO and American tank.
Not everyone could cover monthly living expenses on a third of one's pay, and naturally some skeptical lawyers grilled the partners about job security.
They argue that since the cold war ended, other countries have cut their military expenses by one-third, in contrast to only a one-tenth reduction in Switzerland.
One third of all the expenses of the Medicare program go to people who are diabetic.
The DTI proposed a model where the DTI, the provincial government, and the incubator's income would each cover one third of the operational expenses.
The managers of these tax subsidized accounts can easily siphon off more than one third of annual returns as administrative expenses.
Robert B. Swinehart, 75, of Sun City, Ariz., said he disliked the law even though it could help him and his wife, Theresa, who together have $8,000 a year in drug expenses, more than one-fourth of their income.
