Question

a certain mutual fund has net assets of $1,359,600. one share of this fund has a net asset value of $11.33. how many shares make up the fund?
a. 833
b. 120,000
c. 1,359,600
d. 15,404,268
please select the best answer from the choices provided
a
b
c
d

Explanation:

Step1: Define the formula

Number of shares = $\frac{\text{Total Net Assets}}{\text{Net Asset Value per Share}}$

Step2: Plug in the values

Number of shares = $\frac{1,359,600}{11.33}$

Step3: Calculate the result

$\frac{1,359,600}{11.33} = 120,000$

Answer:

b. 120,000