On May 29, 2021, the market value of the investments contained in the Apple Growth Fund, a mutual fund, was $28,400,000. Liabilities for the fund were $2,840,000. If the fund had 1,730,000 shares outstanding, calculate the net asset value per share. Round your answer to the nearest cent.

On May 29, 2021, the market value of the investments contained in the Apple Growth Fund, a mutual fund, was $28,400,000. Liabilities for the fund were $2,840,000. If the fund had 1,730,000 shares outstanding, calculate the net asset value per share. Round your answer to the nearest cent.

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

See similar textbooks

Related questions

Q: In the prospectus for the Brazos Aggressive Growth fund, the fee table indicates that the fund has a…

A: The objective of the question is to calculate the amount of the 12b-1 fee and the total expenses…

Q: Compute the total and annual returns on the following investment. Seventeen years after purchasing…

A: The total return of a mutual fund is the return it provides over the total period of the…

Q: . If there are 30 million shares outstanding, what is the net asset value? b-1. If a large…

A: We can determine the NAV using the formula below: NAV = Portfolio Value - LiabilitiesNumber of…

Q: A mutual fund has $45 million in assets at the beginning of the year and 1 million shares…

A: NAV stands For Net Asset Value is the value of investment after return and deduction of fees and…

Q: A mutual fund sold $158 million of assets during the year and purchased $132 million in assets. If…

A: A fund's turnover rate is a financial term that indicates how often it purchases and sells assets in…

Q: Consider a no-load mutual fund with $200 million in assets and 11 million shares at the start of the…

A: Total assets at the start of year=$200 millionTotal assets at the end of year=$410 millionNumber of…

Q: You purchased 1,900 shares of the New Fund at a price of $15 per share at the beginning of the year.…

A: Total number of share=1,900 Price per share=$15 Expenses ratio=2.1% Increase in value during the…

Q: Assume the new investor sells the 420 shares. What is his profit? What is the annualized return The…

A: Annualized return refers to the expected return by the investors on the investment made. It…

Q: Suppose an individual invests $24,000 in a load mutual fund for two years. The load fee entails an…

A: The annual return on the mutual funds over the two years investment period is 10.234 %Explanation:…

Q: Down Under Boomerang, Inc., is considering a new three-year expansion project that requires an…

A: NPV is an important capital budgeting metric. It stands for net present value. It is the present…

Q: Corporate Fund started the year with a net asset value of $12.50. By year-end, its NAV eq…

A: Net asset value at beginning (NAV0) is 12.50Net asset value at the end (NAV1) is 12.10Distribution…

Q: - What was the fund's return, and what was an investor's return?

A: Introduction: The term investor's return can be defined as the impact which is created as a result…

Q: An Investment fund has $2 million in cash and $8 million Invested in securities. It currently has 2…

A: Current NAV = Total Assets / Number of shares outstanding Total Asset = 8 million + 2 million = 10…

Q: onsider a no-load mutual fund with $457 million in assets and 12 million shares at the start of the…

A: …

Q: Assume that one year ago you bought 200 shares of a mutual fund for $20 per share, you received a…

A: Solution:Percentage of total return means the percentage of total return earned by the investor over…

Q: Terrance invested $1,500 in a mutual fund on January 1, 2010. He has brought you all of the annual…

A: Return on mutual fund is calculated based on the value appreciation as shown below. Return=Year end…

Q: ws the following returns: 2010 8% 2013 -7% 2011 2% 2014 3% 2012…

A: Different ways are available for the measurement of the financial performance and determine any…

Q: A mutual fund has total assets of $45,000,000 and total liabilities of $4,000,000. There are…

A: Solution:- Net Asset Value (NAV) of mutual fund means per unit net value of each unit. NAV = (Total…

Q: distribution during the past 12 months, and the market value of the fund is now $41.55. Calculate…

Q: ↑ Sixteen years after purchasing shares in a mutual fund for $6000, the shares are sold for $11,100.…

A: Initial investment = $6,000Final sales price = $11,100Number of years = 16 years

Q: Consider an index fund that contains the following four stocks: American Campus Communities,…

A: To Find: NAV on 30th march Number of shares of MRK purchased

Q: A mutual fund has 1,774 shares of General Electric, currently trading at $22, and 1,581 shares of…

A: The NAV of mutual fund is calculated as assets divided by the number of units

Q: what was your investment value at the beginning of 2004?

A: The rate of return determines the gain or loss on an investment in relation to its original cost and…

Q: 1. The balance of a mutual fund on January 1, 2021 is 1,000. The following table includes all cash…

A: Time weighted return is 20.888%. Value at each period is goven excel for December 2021. Using the…

Q: Suppose a man invested $250 at the end of 1900 in each of three funds that tracked the averages of…

A: Future value is the estimated value of an asset at a future date based on an assumed growth rate.…

Q: Suppose an individual invests $40,000 in a load mutual fund for two years. The load fee entails an…

A: Here,Initial Investment is $40,000Front End Load is 3.%Annual Operating Expenses is 0.6%Annual Fund…

Q: A mutual fund has assets of $50 million, liabilities of $150000 million and 1 million shares what is…

A: NAV FORMULA: NAV=asset - liabiltiesnumber of outstanding shares

Q: Suppose you own a mutual fund, which has 17,000,000 shares outstanding. If the total assets are…

A: The value of each fund unit is its net asset value, which is derived by dividing the fund's net…

Q: carry the right to a fund recorded in th How should the pre answer. Your answer to this

A: Firstly, let us understand who fund Managers and preference shares are. Fund Managers are investment…

Q: A mutual fund has 350 shares of General Electric, currently trading at $24, and 350 shares of…

A: Net Asset Value (NAV) is a key financial metric used in the context of investment funds, including…

Q: The China Fund is a mutual fund that can be purchased on the New York Stock Exchange. The rates of…

A: The problem is asking us to find the initial investment value at the beginning of 2004. We are given…

Q: Consider a no-load mutual fund with $440 million in assets and 20 million shares at the start of the…

A: The term net asset value or NAV is the worthiness per share of the securities of the mutual funds…

Q: A mutual fund has a portfolio worth $3.2 million consisting of 50,000 shares of company "A" at a…

A: In finance, the term "portfolio" represents a collection of different investment securities such as…

Q: Compute the total and annual returns on the following investmen Six years after purchasing shares in…

A: Initial value=$7,800 Final value of investment=$11,400 Time period=6years Required: Total return=?…

Q: Cognana fund has 9.8 million shares outstanding. The fund’s portfolio is now valued at $500 million,…

A: Net asset value of a fund is popularly called as NAV. It is the per unit market value of all the…

Q: Baghiben

A: Part 2: Explanation:Step 1: Calculate the total initial investment:Total initial investment = Number…

Q: The All-State Mutual Fund has the following 5-year record of performance: Find this no-load fund's…

A: NAV is the smallest unit of mutual fund in which trading is done and there are dividends and capital…

Q: The Western Capital Growth mutual fund has: Total assets $ 804,500,000 Total liabilities $…

A: Net asset value per share = (Total Assets - Liabilities) / Number of shares outstanding

Q: A year ago, an investor bought 100 shares of a mutual fund at $7.50 per share. This year, the fund…

A: No. of Shares Purchased=100 shares The purchase price per share = $7.50 The dividend per share…

Q: Find the time-weighted rate of return for 2018 Find the exact (to five decimal points)…

A: To calculate the time-weighted rate of return for 2018, we need to divide the ending value of the…

Q: Suppose you own a mutual fund that has 10,311,515 shares outstanding. If its total assets are…

A: NAV = (Total Assets - Total liabilities) / No of units Total Assets = $36,600,019 Total liabilities…

Q: What is the effect of the above transactions on the general fund's fund balance in 2022?

A: Companies need to raise capital in order to run their business smoothly. There are many ways to…

Question

On May 29, 2021, the market value of the investments contained in the Apple Growth Fund, a mutual fund, was $28,400,000.
Liabilities for the fund were $2,840,000.
If the fund had 1,730,000 shares outstanding, calculate the net asset value per share. Round your answer to the nearest cent.
sm

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, finance and related others by exploring similar questions and additional content below.

Similar questions

i need the answer quickly
Jam invested P500,000 in BPI Philippine Equity Index Fund on Aug 6, 2019 at a NAVPU of P104.75. On Sep 13, 2019, the NAVPU was P107.81. How much would Jam have received if he made a full redemption? Assume that the fund has neither front nor back load. P514,606.21 P511,074.16 P514,605.16 P411,684.97
The investments in the almo basics contingency fund have current market value of 230 million the fund also has liablities that total 50 million if this mutual fund has 7.5 million shares what is the net asset value
When Fund H started on 1/1/21, it had $318,225,000 in assets under management (AUM). The annual holding period return was 3.65% in 2021, -20.48% in 2022, and 31.48% in 2023. Some investors redeemed shares, resulting in a net cash outflow of $120,204,000 on 12/31/21. There were also new investors buying the fund shares, resulting in a net cash inflow of $27,885,000 on 12/31/22. The dollar- weighted average return of the fund is % per year during the three-year period. Multiple Choice O O O O O 3.55 3.86 5.12 4.32 2.97
A mutual fund sold $58 million of assets during the year and purchased $64 million in assets. If the average daily assets of the fund were $216 million, what was the fund turnover? (Enter your answer as a percent rounded to 2 decimal places.) Fund turnover %
You invested $25,000 in a mutual fund at the beginning of the year when the NAV was $33.16. At the end of the year the fund paid $.27 in short-term distributions and $.44 in long-term distributions. If the NAV of the fund at the end of the year was $37.81, what was your return for the year?
a. The performance of the fund over the past 1-year period from the 14th of September 2020 to the 13th of September 2021 is presented in the figure below. Based on the figure and given information, which of the following best describes the type of fund TFX: open-end active fund, index fund, close-end fund, or exchange traded fund (ETF). Please explain your answers. Value of Fund's shares 25.00 20.00 15.00 10.00 5.00 0.00 14/09/2020 23/11/2020 Fund TLW Performance -NAV -Share Price 5/02/2021 20/04/2021 30/06/2021 Date Over the past 1-year period, this fund had a portfolio turnover ratio of 10%. 10/09/2021
Louis Hall read in the paper that Fidelity Growth Fund has an NAV of $13.94. He called Fidelity and asked how the NA Fidelity gave him the following information: Current market value of fund investment Current liabilities Number of shares outstanding Did Fidelity provide Louis with the correct information? O Yes O No $8,780,000 $ 975,000 560,000
Please help!
Suppose you own a mutual fund which has 13,000,000 shares outstanding. If its total assets are $36,000,000 and its liabilities are $5,000,000, find the net asset value (in $) of the fund. Round to the nearest cent. 2$
please answer within 30 minutes.
You purchased 1,000 shares of the New Fund at a price of $32 per share at the beginning of the year. You paid a front- end load of 2%. The securities in which the fund invests increase in value by 11% during the year. The fund's expense ratio is 1%. What is your rate of return on the fund if you sell your shares at the end of the year? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Rate of return This is a numeric cell, so % X

SEE MORE QUESTIONS

Recommended textbooks for you

Essentials Of Investments

Finance

ISBN:

9781260013924

Author:

Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:

Mcgraw-hill Education,

FUNDAMENTALS OF CORPORATE FINANCE

Finance

ISBN:

9781260013962

Author:

BREALEY

Publisher:

RENT MCG

Financial Management: Theory & Practice

Finance

ISBN:

9781337909730

Author:

Brigham

Publisher:

Cengage

Foundations Of Finance

Finance

ISBN:

9780134897264

Author:

KEOWN, Arthur J., Martin, John D., PETTY, J. William

Publisher:

Pearson,

Fundamentals of Financial Management (MindTap Cou…

Finance

ISBN:

9781337395250

Author:

Eugene F. Brigham, Joel F. Houston

Publisher:

Cengage Learning

Corporate Finance (The Mcgraw-hill/Irwin Series i…

Finance

ISBN:

9780077861759

Author:

Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor

Publisher:

McGraw-Hill Education

Essentials Of Investments

Finance

ISBN:

9781260013924

Author:

Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:

Mcgraw-hill Education,

FUNDAMENTALS OF CORPORATE FINANCE

Finance

ISBN:

9781260013962

Author:

BREALEY

Publisher:

RENT MCG

Financial Management: Theory & Practice

Finance

ISBN:

9781337909730

Author:

Brigham

Publisher:

Cengage

Foundations Of Finance

Finance

ISBN:

9780134897264

Author:

KEOWN, Arthur J., Martin, John D., PETTY, J. William

Publisher:

Pearson,

Fundamentals of Financial Management (MindTap Cou…

Finance

ISBN:

9781337395250

Author:

Eugene F. Brigham, Joel F. Houston

Publisher:

Cengage Learning

Corporate Finance (The Mcgraw-hill/Irwin Series i…

Finance

ISBN:

9780077861759

Author:

Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS