A mutual fund had total of $ 57,000,000 and of $8,550,000. if 15,960,000 shares are oustanding,what is the net asset value of he fund?
To calculate the net asset value (NAV) of the mutual fund, we need to divide the total assets by the number of outstanding shares.
1. Start by calculating the NAV:
NAV = Total Assets / Number of Outstanding Shares
2. Substituting the given values:
Total Assets = $57,000,000
Number of Outstanding Shares = 15,960,000
NAV = $57,000,000 / 15,960,000
3. Performing the division:
NAV = $3.57 (approximately)
Therefore, the net asset value (NAV) of the mutual fund is approximately $3.57.