Based on the mutual fund NAVs below, how many shares will $600 buy you, if you place your order on Tuesday at 8pm after the market closes? (There is no front-end load on the mutual fund.)
| Tuesday | Wednesday | Thursday |
| $12 | $30 | $20 |
|
20 |
||
|
50 |
||
|
30 |
||
|
60 |
Since the order is placed on Tuesday after the market closes, it will be bought at the opening price on Wednesday
i.e. @$30
Hence, number of shares = 600/30
= 20 shares
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