Chyra redeemed 175 shares of stock she owned in the fund shown below. Name of Fund NAV Offer Price CAH Group $15.83 $16.27 What
were Chyra’s proceeds? a. $77.00 b. $2,770.25 c. $2,847.25 d. $5,617.50
1 answer:
Answer:
Option b $2,770.25
Step-by-step explanation
Chyra owned shares of stock, details are :
Name of Fund - CAH Group
NAV - $15.83
Offer Price - $16.27
Chyra redeemed stock = 175 shares
As we know shares can be redeemed on NAV price.
Chyra's proceeds = 175 × 15.83 = $2,770.25
Chyra's proceeds were $2,770.25.
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