QUESTION 7 Shares of a closed-end fund are trading at a 6% premium to its $10...
QUESTION 7
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Shares of a closed-end fund are trading at a 6% premium to its $10 net asset value. The current market price of the fund's shares are closest to:
a. $9.40.
b. $10.06.
c. $10.60.
d. $16.00.
QUESTION 8
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Pacific Fund invests exclusively in Treasury bills and other debt securities with very short-term maturities. Pacific can most likely be characterized as a:
a. Growth fund.
b. Fixed-income fund.
c. Money market fund.
d. Balanced fund.
Homework Answers
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QUESTION 7
Shares of a closed-end fund are trading at a 6% premium to its
$10...
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