Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

36. (a) An environmentally-friendly balanced mutual fund began the year with a net asset value (NAV) of $12.25 per share. During the year it received

image text in transcribed
36. (a) An environmentally-friendly balanced mutual fund began the year with a net asset value (NAV) of $12.25 per share. During the year it received $1.00 dividend and interest income, $0.75 in capital gains. Sixty percent of (divided) income and all of the capital gain were distributed to shareholders. Calculate the year-end NAV (b) An aggressive equity mutual fund began the year with a net asset value (NAV) of $6.50 per share. During the year it received $0.15 dividend income, $1.25 in realized capital losses, and $0.50 in unrealized capital gains. Ninety percent of the (dividend) income was distributed to shareholders. Calculate the year-end NAV. (c) Find the rates of return in the mutual funds described in parts (a) and (b)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Airline Finance

Authors: Peter S. Morrell

3rd Edition

0815387520, 9780815387527

More Books

Students also viewed these Finance questions

Question

=+What is the most challenging part of working in social media?

Answered: 1 week ago