A Mutual Fund Had Year-End Assets of $465,000,000 and Liabilities

question 7

Multiple Choice

A mutual fund had year-end assets of $465,000,000 and liabilities of $37,000,000. If the fund NAV was $56.12, how many shares must have been held in the fund?

• A) 4,300,000
• B) 6,488,372
• C) 8,601,709
• D) 7,626,515
• E) None of these options are correct.

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Definitions:

1790 Naturalization Act

The first law in the United States to establish a national framework for the naturalization of foreign citizens, which limited this process to "free white persons."

Open Immigration

American immigration laws under which nearly all white people could immigrate to the United States and become naturalized citizens.

Thomas Jefferson

A Founding Father of America, the main writer of the Declaration of Independence in 1776, and served as the third President of the United States from 1801 to 1809.

Indians

A term historically used to refer to Native American peoples but is considered outdated and incorrect.