Question
A mutual fund has the following assets and
liabilities: Assets: Stocks: $100 million Bonds: $50 million Cash: $10 million Liabilities: Accounts payable: $5 million Accrued expenses: $2 million What is the NAV per unit of the mutual fund if there are 10 million units outstanding?Solution
To calculate the NAV per unit, we first need to calculate the total net assets of the mutual fund. This can be done by subtracting the total liabilities from the total assets: Total net assets = $100 million + $50 million + $10 million - $5 million - $2 million = $153 million. NAV per unit = $153 million / 10 million units = $15.30
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