On January 1st, a mutual fund has the following assets and prices at 4:00 p.m. Calculate the

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On January 1st, a mutual fund has the following assets and prices at 4:00 p.m.

Stock Shares owned Price 1,000 $1.97 $48.26 5,000 $26.44 1,000 $67.49 10,000 $2.59 3,000 4)

Calculate the net asset value (NAV) for the fund. Assume that 8,000 shares are outstanding for the fund.

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Financial Markets and Institutions

ISBN: 978-0133423624

8th edition

Authors: Frederic S. Mishkin, Stanley G. Eakins

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