Question

The client owns 1000 shares of the Drake Fund at the start of business on Monday morning. The client calls your team and wants to know the value of her Drake Fund investment. You look at your workstation and see that Drake Fund is currently trading at $13.50 per share. What is the current value of the client's Drake Fund investment?

Answer 1

Answer:

The current value of the client's Drake fund investment is $13,500

Step-by-step explanation:

In this question, we are tasked with calculating the current value of the Client's Drake Fund investment.

To calculate this, what we need to do is to use a mathematically derived formula.

Mathematically, The current value of the fund investment = Number of shares owned by the client × price per share

From the question, we identify that the number of shares owned by the client is 1000 while the price per share is $13.50

We plug these values into the equation above to yield;

Current value of fund investment = 1000 × $13.5 = $13,500