Explanation:
The Net Asset Value (NAV) is the market value of the assets of the fund minus its liabilities divided by the number of shares in the fund.
\text{NAV} = \frac{(335,000,000 - 68,000,000)}{100,000} = \`$2`,670No comments yet.
Q.1130 Proud Mutual Fund had year-end assets worth $335 million and liabilities of $68 million. Given that there were a total of 100,000 shares outstanding, compute the NAV.
A
120
B
2,600
C
1,500
D
2,670