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

The net asset value (NAV) is calculated by subtracting liabilities from assets and then dividing by the number of shares. 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