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Aloiza [94]
3 years ago
7

The New American Enterprise Mutual Fund's portfolio is valued at $120,000,000. The fund has liabilities of $4,000,000, and the i

nvestment company sponsoring the fund has issued 5,800,000 shares. What is the fund's net asset value?
a. $120
b. $58
c. $40
d. $30
e. $20
Business
1 answer:
sasho [114]3 years ago
3 0

Answer:

e. $20

Explanation:

The net asset value (N) for The New American Enterprise Mutual Fund's portfolio is given by the funds total value ($120,000,000) subtracted by its liabilities ($4,000,000)  and then divided by the number of shares issued (5,800,000) .

N = \frac{\$120,000,000-\$4,000,000}{5,800,000} \\N=\$20

The fund's net asset value is $20

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