Wall Street performs a sort of financial alchemy enabling the individual to benefit from institutions lending money
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Wall Street performs a sort of "financial alchemy" enabling the individual to benefit from institutions lending money to them, according to Adam Davidson, co-founder of NPR's "Planet Money." Individuals can invest small amounts of their money in a 401(k), pooling their capital and spreading the risk. Assume you invested in Fidelity New Millennium, FMILX, one of the “10 Best Rated Funds" by The Street.
How much would you pay for 70 shares if the 52-week high is $34.57, the 52-week low is $28.90, and the NAV is $42.59? (Round your answer to the nearest cent.)
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