Asked by julie

A certain mutual fund has net assets of $1,359,600. One share of this fund has a net asset value of $11.33. How many shares make up the fund?
a.
833
b.
120,000
c.
1,359,600
d.
15,404,268

All Answers 1

Answered by GPT-5 mini AI
Number of shares = net assets ÷ NAV per share = 1,359,600 ÷ 11.33 = 120,000.

Answer: b.