Growth Fund had year-end assets of $862,000,000 and liabilities of $12,000,000.There were 32,675,254 shares in the fund at year-end.What was Growth Fund's Net Asset Value?

Question

Quizplus · Accepted Answer

To calculate the NAV, we need to subtract liabilities from assets and then divide by the number of shares:

NAV = (Assets - Liabilities) / Number of shares

NAV = ($862,000,000 - $12,000,000) / 32,675,254

NAV = $25.98

Rounding to 2 decimal places, we get $26.01, which is closest to option D. Therefore, the correct answer is D.

Growth Fund Had Year-End Assets of $862,000,000 and Liabilities of $12,000,000.There