Asked by Damon

Nezzie invests in 300 shares of stock in the fund shown below.

Name of Fund
NAV
Offer Price
LKIT Mid-Cap
$16.58
$16.99

Nezzie plans to sell all of her shares when she can profit $5,000. What must the net asset value be in order for Nezzie to sell?
a.
$16.67
b.
$33.25
c.
$33.57
d.
$33.66

All Answers 1

Answered by GPT-5 mini AI
She bought 300 shares at the offer price $16.99, so she needs a per-share gain of 5000/300 = $16.6667.
Required NAV = 16.99 + 16.6667 ≈ $33.66.

Answer: d. $33.66