Question

A mutual fund had year-end assets of $560,000,000 and liabilities of $26,000,000. There were 23,850,000 shares in the fund at year end. What was the mutual fund's Net Asset Value

Answer 1

The mutual fund's Net Asset Value was  $223.90

What Is Mutual Fund NAV?

The market value per share of a mutual fund is represented by its net asset value (NAV). It is the price at which investors purchase fund shares from a fund company (bid price) and sell them to a fund company (redemption price).

The total worth of all the cash and securities in a fund's portfolio, less any liabilities, is divided by the number of outstanding shares to arrive at the fund's NAV.

The mutual fund's Net Asset Value is given as:

= ($560,000,000-$26,000,000)/23,850,000

=$534,000,000/23,850,000

= $223.8993710691823

Rounding off to 2-decimal places we get:

=$223.90

Hence, the mutual fund's Net Asset Value was $223.90

Learn more about  mutual fund's Net Asset Value here:

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