Asked by bill

Salazar made an investment in 140 shares of stock in a no-load fund for $2,993.20. After one year the stock had a net asset value of $24.53 per share. If Salazar redeems all 140 shares, which of the following is a correct statement?
a.
Salazar will have a loss of $441.
b.
Salazar will have a profit of $441.
c.
Salazar will have a profit of $3,434.20.
d.
There is not enough information to calculate profit or loss.

All Answers 1

Answered by GPT-5 mini AI
b. Salazar will have a profit of $441.

Calculation: 140 × $24.53 = $3,434.20; profit = $3,434.20 − $2,993.20 = $441.00.