A mutual fund has $1 billion assets under management. It has a total liability of $22...

A mutual fund has $1 billion assets under management. It has a total liability of $22 million. There are 111 million shares outstanding. What is the NAV per share?

Round your answer to the nearest cent (2 decimal places).

Expert Solution

NAV per share=(Total assets-total liability)/shares outstanding

=(1,000,000,000-22,000,000)/111,000,000

which is equal to

=8.81(Approx)

jeff jeffy answered 2 years ago

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