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irina1246 [14]
2 years ago
10

3. At the beginning of trading on April 20, an open-end mutual fund with 7,000 shares outstanding owned 4,000 shares of Allstate

and 6,000 shares of The Hartford. During the day, an investor bought 150 shares of the mutual fund. The fund manager bought 140 shares of Allstate with the proceeds from the sale of the mutual fund shares. At the end of trading on April 20, Allstate was selling for $125.10 and The Hartford was selling for $68.35. What was the mutual fund's net asset value (NAV) at the end of trading on April 20
Business
1 answer:
Mazyrski [523]2 years ago
4 0

Answer:

$129.79

Explanation:

<u>Assets of mutual funds</u>

Shares of Allstate = Total Shares * Selling Price

Shares of Allstate = [4000 + 140] * $125.10

Shares of Allstate = $517,914.

Shares of Hartford = Total Shares * Selling Price

Shares of Hartford = 6000 * $68.35

Shares of Hartford = $410,100.

Net Asset Value = Shares of Allstate + Shares of Hartford

Net Asset Value = $517,914 + $410,100

Net Asset Value = $928,014

Numbers of shares outstanding = 7,000 + 150

Numbers of shares outstanding = 7,150

Net Asset Value per Share = Net Asset Value / Numbers of shares outstanding

Net Asset Value per Share = $928,014/7,150

Net Asset Value per Share = $129.79

So, the mutual fund's net asset value (NAV) at the end of trading on April 20 is $129.79.

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Assume that Chris and Heather get married in 2019 and file a joint return. What is their taxable income and income tax
konstantin123 [22]

Question Completion:

Chris and Heather are engaged and plan to get married. Chris is a full-time student and earns $8,500 from a part-time job. With this income, student loans, savings, and nontaxable scholarships, he is self-supporting. For the year, Heather is employed and reports $83,600 in wages.

Answer:

Chris and Heather

Taxable income and income tax (jointly):

Gross income               $92,100  

Standard deduction      24,000

Taxable income           $68,100  

Income tax                   $14,982

Explanation:

Chris' income = $8,500

Healther's wage= $83,600

Gross income =   $92,100

Standard deduction (jointly) = $24,000

Income tax rate = 22%

Income tax (jointly) = 22% of $68,100 = $14,982

4 0
3 years ago
The Clyde Corporation's variable expenses are 35% of sales. Clyde Corporation is contemplating an advertising campaign that will
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Answer:

$29,850

Explanation:

The computation of the increase in net operating income is shown below:

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where,

Increase in sales = $89,000

Increase in variable expenses is

= $89,000 × 35%

= $31,150

And, the advertising cost is $28,000

So, the increase in operating income is

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= $29,850

4 0
3 years ago
What is the net pay?​
viva [34]

Answer:

its the last one i think

Explanation:

6 0
3 years ago
Companies transmit over the internet because the internet ________.
Lera25 [3.4K]
<span>the answer to the question is : is inexpensive</span>
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An investment of $1 each in two different securities led to a value of $11 (Security A) and $16 (Security B), respectively, afte
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Answer:

A

Explanation:

The formula for calculating future value:

FV = P (1 + r)^n

FV = Future value  

P = Present value  

R = interest rate  

N = number of years

Security A : 11 = 1( 1 + r)^15

11^(1/15) =  1( 1 + r)

1.173 = 1 + r

r = 1.173 - 1

r = 17.33%

Security A : 16 = 1( 1 + r)^15

16^(1/15) =  1( 1 + r)

1.20 = 1 + r

r = 1.2 - 1

r = 0.2

r = 20%

Security B earned a higher average annual rate of return as 20% is greater than 17.33%

3 0
3 years ago
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