Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Open-end Fund A has 197 shares of ATT valued at $51 each and 46 shares of Toro valued at $91 each Closed end Fund B

image text in transcribed
Open-end Fund A has 197 shares of ATT valued at $51 each and 46 shares of Toro valued at $91 each Closed end Fund B has 91 shares of ATT and 88 shares of Toro. Both funds have 1.000 shores outstanding a. What is the NAV of each fund using these prices? (Round your answers to 3 decimal places. (e.g., 32.161) b. If the price of ATT stock increases to $52 25 and the price of Toro stock declines to $88 292, how does that impact the NAV of both funds? (Negative amounts should be indicated by a minus sign. Do not round intermediate calculations. Round your answers to 2 decimal places. (e.g., 32.16)) c. Assume that another 171 shares of ATT valued at $51 are added to Fund A The funds needed to buy the new shares are obtained by selling 613 more shares in Fund A What is the effect on Fund As NAV if the prices remain unchanged from the original prices? a NAV of Fund A NAV of Fund B b. Percentage change in NAV Fund A Porcentage change in NAV Fund B Percentage change in NAV Fund A %

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

Financial Accounting

Authors: Belverd E. Needles Jr,, Marian Powers

8th Edition

0618310746, 978-0618310746

More Books

Students also viewed these Accounting questions

Question

Differentiate tan(7x+9x-2.5)

Answered: 1 week ago

Question

Explain the sources of recruitment.

Answered: 1 week ago

Question

Differentiate sin(5x+2)

Answered: 1 week ago

Question

Compute the derivative f(x)=1/ax+bx

Answered: 1 week ago