Question

An open-end mutual fund has the following stocks:

Stock Shares Stock Price
A 13,500 $83
B 33,000 16
C 20,000 59
D 71,000 21
There are 65,000 shares of the mutual fund, and liabilities of $215,000. What is the NAV of the fund? (Do not round intermediate calculations. Round your answer to 2 decimal places. Omit the "$" sign in your response.)

Net asset value

Answer 1

Net asset value is $4,104,500 in total and $63.15 per share

Step-by-step explanation:

Stock Shares Price Total value (Share x Price)

A 13,500 $83 $1,120,500

B 33,000 $16 $528,000

C 20,000 $59 $1,180,000

D 71,000 $21 $1,491,000

Total $4,319,500

Net Asset = $4,319,500 - $215,000 = $4,104,500

NAV = $4,104,500 / 65,000 = $63.15 / share