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An open-end mutual fund has the following stocks: Stock Shares Stock Price A 10,000 $ 90...

An open-end mutual fund has the following stocks:

Stock Shares Stock Price
A 10,000 $ 90
B 33,000 19
C 10,000 73
D 71,000 14

If there are 58,000 shares of the mutual fund, what is the NAV? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

Solutions

Expert Solution

Solution:

Total assets = (10000*90)+(33000*19)+(10000*73)+(71000*14)= $32,51,000

NAV = Total Assets /number of shares

NAV= $32,51000/58000= $56.05

jeff jeffy answered 2 years ago
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