Question

A certain mutual fund has net assets of $1,359,600. One share of this fund has a net asset value of $11.33. How many shares make up the fund?

a. 833
b. 120,000
c. 1,359,600
d. 15,404,268

Answer 1

1359600/11.33=120000
the answer is B

Answer 2

Option b. 120,000

Explanation:

Total value of a certain mutual fund = $1,359,600

One share of this fund has NAV = $11.33

We just divide to find how many shares are there of this value.

= 1,359,600 ÷ 11.33 = 120,000 shares

Therefore, 120,000 shares make up the fund.