Calculate the Net Asset Value and Number of Shares Purchased

question 78

Short Answer

Calculate the net asset value and number of shares purchased for the fund (round shares to thousandths): $$\begin{array} { l l l l l l l } \text { Total } & \text { Total } & \text { Shares } & \text { Net Asset } & \text { Offer } & \text { Total } & \text { Shares } \\\text { Assets } & \underline { \text { Liab. } } & \underline { \text { Outstanding } } & \underline { \text { Value(NAV) } } & \text { Price } & \underline { \text { Investment } } & \underline { \text { Purchased } } \\\$ 46,000,000 & \$ 1,200,000 & 6,200,000 & & \$ 8.15 & \$ 2,000 &\end{array}$$

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Definitions:

Consumption

Domestic consumption of goods and services by households.

Autonomous Consumption

The level of consumption that occurs when income is zero, reflecting the basic level of spending necessary to sustain life.

Disposable Income

Available financial resources destined for household spending and saving upon deducting income taxes.

Saving

The process of setting aside a portion of current income for future use, typically to hedge against unexpected expenses, achieve financial goals, or secure a retirement.