A mutual fund had year-end assets of $700,000,000 and liabilities of $7,000,000.There were 40,150,000 shares in the fund at year-end.What was the mutual fund's Net Asset Value?

Question

Quizplus · Accepted Answer

Net Asset Value (NAV) = (Total assets - Total liabilities) / Number of shares

NAV = ($700,000,000 - $7,000,000) / 40,150,000
NAV = $693,000,000 / 40,150,000
NAV = $17.26 per share

Therefore, the answer is E.

A Mutual Fund Had Year-End Assets of $700,000,000 and Liabilities