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What is the NAV per share on December

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Reference no: EM133021661

Question - On January 1 st, 2020, a mutual fund raised $45,000 by issuing 1,000 shares. On January 5 th, 2020, the fund bought 70 shares of IBM @ $120, 210 shares of Apple @ $143 and 417 shares of AMD @ $10. On December 31 st, 2020, IBM, Apple, and AMD stock prices were $122, $105, and $20, respectively. There was a 10-for-7 stock split in Apple stock on September 15 th, 2020. The fund borrowed $2,000 on December 21 st, 2020 from a bank to meet withdrawal requirement. What is the NAV per share on December 31 st, 2020?

Reference no: EM133021661

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