A mutual fund had year-end assets of $521,000,000 and liabilities of $63,000,000.If the fund NAV was $26.12,how many shares must have been held in the fund?

Question

Quizplus · Accepted Answer

NAV per share = (assets - liabilities) / number of shares
$26.12 = ($521,000,000 - $63,000,000) / number of shares
$26.12 * number of shares = $458,000,000
number of shares = $458,000,000 / $26.12
number of shares = 17,534,456

A Mutual Fund Had Year-End Assets of $521,000,000 and Liabilities