A Mutual Fund Had Year-End Assets of $700,000,000 and Liabilities

question 9

Multiple Choice

A mutual fund had year-end assets of $700,000,000 and liabilities of $7,000,000. There were 40,150,000 shares in the fund at year end. What was the mutual fund's net asset value?

• A) $9.63
• B) $57.71
• C) $16.42
• D) $17.87
• E) $17.26

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Definitions:

Lactation

The production of milk in the breasts (mammary glands).

Tangible Attributes

The physical characteristics of a product that can be sensed, such as its size, shape, weight, and texture.

Intangible Attributes

Characteristics of a product or service that cannot be physically touched or measured, such as brand reputation or customer service quality.

Organizational Buyers

Those who make purchasing decisions on behalf of a company or organization, often including considerations like bulk buying, contractual negotiations, and supplier relationships.