A mutual fund had year-end assets of $560,000,000 and liabilities of $26,000,000.There were 23,850,000 shares in the fund at year end.What was the mutual fund's net asset value?

Question

Quizplus · Accepted Answer

Net Asset Value (NAV) per share = (Total assets - Total liabilities) / Total shares outstanding

= ($560,000,000 - $26,000,000) / 23,850,000

= $534,000,000 / 23,850,000

= $22.39 per share

Therefore, the correct answer is B) $22.39.

A Mutual Fund Had Year-End Assets of $560,000,000 and Liabilities