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Sonbull [250]
3 years ago
13

2. An open-end mutual fund has the following stocks: Stock Shares Stock Price A 13,500 $83 B 33,000 16 C 20,000 59 D 71,000 21 T

here are 65,000 shares of the mutual fund, and liabilities of $215,000. What is the NAV of the fund?
Business
1 answer:
Ivenika [448]3 years ago
6 0

Answer:

NAV=$63.114615

The NAV of the fund=$63.114615

Explanation:

Stock             Shares        stock Price

A                    13,500          $83

B                    33,000          $16

C                    20,000         $59

D                    71,000          $21

Total Assets= (  13,500*$83)+(   33,000*$16)+( 20,000*$59)+(71,000*$21)

Total Assets= $4,319,500

Formula for NAv:

NAV=\frac{Total Assets-\ Liabilities}{Total/ Shares}

NAV=\frac{\$4,319,500-\$215,000}{65000}

NAV=$63.114615

The NAV of the fund=$63.114615

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