A-

You are the manager of the UWM 778 open-end equity mutual fund. You have the following asset positions (all $s in millions):

Amazon $350

Microsoft $240

Apple $650

Facebook $120

Southwest $65

What is your fund's NAV (in $s) if you also have $70 in cash and 20 million shares outstanding?

B-

One day later, the stocks remain flat except Apple pops a full 6%. At what price (in $s) will a new shareholder buy-in after that stock movement? The information from the prior problem is copied below.

You are the manager of the UWM 778 equity mutual fund. You have the following asset positions (all $s in millions):

Amazon $350

Microsoft $240

Apple $650

Facebook $120

Southwest $65

What is your fund's NAV (in $s) if you also have $70 in cash and 20 million shares outstanding?