QUESTION 7

1. A Mutual Fund with 2500 shares, has the following assets and prices at the end of the day on Monday.
2. Stock
3. Shares owned
4. Price
5. 1
6. 2,500
7. $14.55
8. 2
9. 3,500
10. $15.72
11. 3
12. 5,500
13. $20.28
14. 4
15. 2,000
16. $21.84
17. An investor sends the fund a check for $15,000. If there is no front-end load, calculate the new number of shares of the mutual fund. Assume the manager purchases 400 shares of stock 3, and the rest is held as cash.
18. 2613 shares
19. 2120 shares
20. 2699 shares
21. 2238 shares
22. 2652 shares