Ms. Laura Hatch
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U.S. Securities and Exchange Commission
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Division of Investment Management
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100 F Street N.E.
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Washington, DC 20549
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AMCAP Fund (811-01435)
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Capital World Bond Fund (811-05104)
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American Balanced Fund (811-00066)
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Capital World Growth and Income Fund, Inc. (811-07338)
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American Funds Global Balanced Fund (811-22496)
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EuroPacific Growth Fund (811-03734)
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The American Funds Income Series (811-04318)
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The Growth Fund of America, Inc. (811-00862)
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American Funds Fundamental Investors (811-00032)
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The Income Fund of America (811-01880)
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American Funds Money Market Fund (811-22277)
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Intermediate Bond Fund of America (811-05446)
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American Funds Mortgage Fund (811-22449)
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International Growth and Income Fund (811-22215)
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American Funds Short-Term Tax-Exempt Bond Fund (811-05750)
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The Investment Company of America (811-00116)
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American Funds Tax-Exempt Fund of New York (811-22448)
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Limited Term Tax-Exempt Bond Fund of America (811-07888)
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The American Funds Tax-Exempt Series I (811-04653)
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The New Economy Fund (811-03735)
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The American Funds Tax-Exempt Series II (811-04694)
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New Perspective Fund, Inc. (811-02333)
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American High-Income Municipal Bond Fund (811-08576)
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New World Fund, Inc. (811-09105)
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American High-Income Trust (811-05364)
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Short-Term Bond Fund of America (811-21928)
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American Mutual Fund (811-00572)
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SMALLCAP World Fund, Inc. (811-05888)
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The Bond Fund of America (811-02444)
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The Tax-Exempt Bond Fund of America (811-02421)
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Capital Income Builder (811-05085)
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Washington Mutual Investors Fund (811-00604)
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Comment:
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The funds’ prospectuses state that Class 529 shares are subject to a $10 annual account fee. The expense examples in the fund prospectuses appear to reflect a deduction of $20 in the first year. Please explain this.
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Response:
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Class 529 shares of the funds are subject to a $10 annual account fee and a $10 account set up fee. The expense example reflects both of these charges in the first year.
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Comment:
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For share classes that convert to other share classes after a period of time, are average annual total returns calculated using the expenses of the converted share class?
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Response:
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Average annual total returns are calculated using the expenses of the converted share class. For example, Class B shares convert to Class A shares after eight years. Average annual total returns for Class B shares reflect Class B expenses for the first eight years and Class A expenses after eight years.
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