An open-end mutual fund has the following stocks: Stock Shares Stock Price A 6,500 $97 B...
| An open-end mutual fund has the following stocks: |
| Stock | Shares | Stock Price |
| A | 6,500 | $97 |
| B | 33,000 | 16 |
| C | 4,600 | 87 |
| D | 78,000 | 11 |
|
There are 51,000 shares of the mutual fund, and liabilities of $115,000. What is the NAV of the fund? (Do not round intermediate calculations. Round your answer to 2 decimal places. |
Homework Answers
Total assets = (6,500 × $97) + (33,000 × $16) + (4,600 × $87) + (78,000 × $11) = $2,416,700
NAV = ($2,416,700 – $115,000) / 51,000 = $45.13
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An open-end mutual fund has the following stocks:
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