Answered step by step
Verified Expert Solution
Question
1 Approved Answer
On December 31 a mutual fund has the following assets and prices at 4:00 p.m. Stock Share Owned Price 1 1000 $1.97 2 5000 $48.26
On December 31 a mutual fund has the following assets and prices at 4:00 p.m.
Stock | Share Owned | Price |
1 | 1000 | $1.97 |
2 | 5000 | $48.26 |
3 | 1000 | $26.44 |
4 | 10000 | $67.49 |
5 | 3000 | $2.59 |
Calculate the net asset value (NAV) for the fund. Assume that 8,000 shares are outstanding for the fund.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started