Multiple Mutual Funds had year-end assets of $457,000,000 and liabilities of $17,000,000.There were 24,300,000 shares in the fund at year-end.What was Multiple Mutual's Net Asset Value?

Question

Quizplus · Accepted Answer

Net Asset Value (NAV) is calculated as (Assets - Liabilities) / Number of Shares. Here, NAV = ($457,000,000 - $17,000,000) / 24,300,000 = $18.11.

Multiple Mutual Funds Had Year-End Assets of $457,000,000 and Liabilities