If the Micro mutual fund was originated by selling $250,000 of stock at $10.00 per share, calculate its current NAV if the fund consists of the following four stocks. $\begin{array}{ccc}
\text { Stock } & \text { Shares } & \text { Price } \
\hline \text { Q } & 9,500 & \$ 10.75 \
\mathrm{R} & 7,200 & \$ 13.90 \
\mathrm{~S} & 4,500 & \$ 22.25 \
\mathrm{~T} & 6,800 & \$ 14.75
\end{array}$

Question

Quizplus · Accepted Answer

To calculate the current Net Asset Value (NAV) of the Micro mutual fund, first, find the current market value of each stock by multiplying the number of shares by the price per share, then sum these values to get the total market value of the fund. Finally, divide this total market value by the number of shares originally sold to find the NAV.For stock Q: $9,500 \times \$10.75 = \$102,125$For stock R: $7,200 \times \$13.90 = \$100,080$For stock S: $4,500 \times \$22.25 = \$100,125$For stock T: $6,800 \times \$14.75 = \$100,300$Total market value = $ \$102,125 + \$100,080 + \$100,125 + \$100,300 = \$402,630$The fund was originated by selling $25,000$ shares (\$250,000 / \$10.00 per share).NAV = Total market value / Number of shares = $ \$402,630 / 25,000 = \$16.11$Therefore, the correct answer is D) $16.11.

If the Micro Mutual Fund Was Originated by Selling $250,000