Mary owns 5000 shares in a mutual fund. This fund began the year with a NAV of
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Mary owns 5000 shares in a mutual fund. This fund began the year with a NAV of GHs 10.25 per share. At the end of the year, the fund distributed income amounting to GHs 0.75 per share and capital gains amounting to Ghs 1.25 per share. Information available indicates that before the distribution of income and the capital gains, the NAV of the fund amounted to Ghs 14.50. If MAry wanted her distribution of income and capital reinvested in more shares of the fund, calculate how many shares Mary will have after the redistribution.
Related Book For
Principles of Accounting
ISBN: 978-1133626985
12th edition
Authors: Belverd E. Needles, Marian Powers and Susan V. Crosson
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