Question

Chyra redeemed 175 shares of stock she owned in the fund shown below. Name of Fund NAV Offer Price CAH Group $15.83 $16.27 What were Chyra’s proceeds? a. $77.00 b. $2,770.25 c. $2,847.25 d. $5,617.50

Answer 1

B

Explanation:

$2,770.25

Answer 2

Option b $2,770.25

Step-by-step explanation

Chyra owned shares of stock, details are :

Name of Fund - CAH Group

NAV - $15.83

Offer Price - $16.27

Chyra redeemed stock = 175 shares

As we know shares can be redeemed on NAV price.

Chyra's proceeds = 175 × 15.83 = $2,770.25

Chyra's proceeds were $2,770.25.