Final answer:
The mutual fund now holds approximately 2,499 shares of Apple after investing the money from the purchase of 3,000 new fund shares.
Step-by-step explanation:
The mutual fund initially contains 1,200 shares of Apple. After the purchase of 3,000 shares of the fund, the amount invested in Apple stock can be calculated by finding the net asset value (NAV) per share of the mutual fund and multiplying it by the number of new shares purchased (3,000 shares).
The combined value of the mutual fund's holdings is the sum of (800 shares of Lululemon × $158) + (2,500 shares of Alibaba × $190) + (1,200 shares of Apple × $180), which equals $478,400 + $475,000 + $216,000 = $1,169,400. The NAV per share before the new shares are issued is therefore $1,169,400 ÷ 15,000 shares = $77.96 per share.
With the purchase of 3,000 new fund shares, $77.96 × 3,000 = $233,880 is invested in Apple stock. Given the Apple stock's price at $180, this equates to $233,880 ÷ $180 per share ≈ 1,299 new shares of Apple (rounded to the nearest whole number).
The mutual fund now holds approximately 1,200 original Apple shares plus the 1,299 new shares, totaling around 2,499 shares of Apple.