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A Mutual Fund Had Year-End Assets of $327,000,000 and Liabilities

question 20

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A mutual fund had year-end assets of $327,000,000 and liabilities of $46,000,000. If the fund NAV was $30.48, how many shares must have been held in the fund?


Definitions:

Inland Freshwater Wetland

Wetlands located away from coastal areas, characterized by fresh water and supporting diverse plant and animal life, important for flood control and water purification.

Estuary

A coastal area where fresh water from rivers and streams meets and mixes with salt water from the ocean, creating diverse and productive ecosystems.

Coral Reefs

Underwater ecosystems characterized by reef-building corals, which are colonies of tiny living animals found in marine waters that contain few nutrients.

Biological Indicators

Organisms or components of organisms that are used to assess the health of a natural ecosystem or the presence of pollutants.

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