Assume that a no-load open-end mutual fund holds securities with a total market value of $20 million, has no liability, and has 250,000 shares outstanding. The net asset value par share of this fund is

Question

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The net asset value per share (NAV) is calculated by dividing the total market value of the fund's securities by the number of shares outstanding. Here, $20 million divided by 250,000 shares equals $80 per share.

Assume That a No-Load Open-End Mutual Fund Holds Securities with a Total