Question

The World Income Appreciation Fund has current assets with a market value of $10.1 billion and has 440 million shares outstanding. What is the net asset value (NAV) for this mutual fund?

Answer 1

$22.95

Step-by-step explanation:

Given that,

Market value of the current assets = $10.1 billion

Number of shares outstanding = 440 million

The net asset value is determined by the ratio of Market value of the current assets and Number of shares outstanding.

Net asset value (NAV) for this mutual fund:

= Market value of the current assets ÷ Number of shares outstanding

= $10,100,000,000 ÷ 440,000,000

= $22.95

Therefore, the net asset value (NAV) for this mutual fund is $22.95.