things, rather than a large portion of one thing; this is known as diversification. (Tor F) 29. A 29. For each fund, find the NAV. B 30. Total of closing prices Shares outstanding Fund Liabilities 31. A $32,785,000 $4,812,000 800,000 shares 32. B $18,415,000 $2,508,000 450,000 shares 33. 34. 35. 36. 37. 30. Some mutual funds, known as closed-end mutual funds, sell no additional shares after the initial offering. (Tor F) 38. 31. With a back-end load mutual fund, an investor pays a fee when the shares are purchased but none when the shares are sold. (T or F) Challenge problems For Problems 32-36, tell whether the statement refers to stocks or bonds. 32. With this investment, you are lending money to a corporation. 33. For this investment, you may receive interest checks. 34. A quote in the financial section of a newspaper looks like this: Wendys 71419. 35. The value of this investment can go down during ownership. 36. With this investment, you become an owner of a corporation. 37. Assuming a 15% tax rate, which bond, purchased at par, has the greater after-tax rate of return: a corporate bond paying 7.5% or a tax-free municipal bond paying 6.25%? 38. Which bond purchased at par provides the greater return: a 7.3% corporate bond paying interest annually or a 7.2% corporate bond paying interest semiannually