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Louis Hall read in the paper that Fidelity Growth Fund has an NAV of $14.05. He called Fidelity and asked how the NAV was calculated.

Louis Hall read in the paper that Fidelity Growth Fund has an NAV of $14.05. He called Fidelity and asked how the NAV was calculated. Fidelity gave him the following information:

Current market value of fund investment $ 8,770,000
Current liabilities $ 970,000
Number of shares outstanding 555,000

Did Fidelity provide Louis with the correct information?

Yes
No

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