You have a mutual fund with $100 million worth of total assets which is calculated at the end of the day after closing. It also has $10 million of cash on hand, $5 million in total receivables. It has earned $10 million of income for the day. The fund has $8 million in short-term liability and $2 million in long term liability. The fund also has 10 million shares outstanding. What is NAV?
You have a mutual fund with $100 million worth of total assets which is calculated at the end of the day after closing. It also has $10 million of cash on hand, $5 million in total receivables. It has earned $10 million of income for the day. The fund has $8 million in short-term liability and $2 million in long term liability. The fund also has 10 million shares outstanding. What is NAV?
Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)
7th Edition
ISBN:9780357033609
Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Chapter13: Investing In Mutual Funds, Etfs, And Real Estate
Section: Chapter Questions
Problem 7FPE
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You have a mutual fund with $100 million worth of total assets which is calculated at the end of the day after closing. It also has $10 million of cash on hand, $5 million in total receivables. It has earned $10 million of income for the day. The fund has $8 million in short-term liability and $2 million in long term liability. The fund also has 10 million shares outstanding. What is NAV?
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