An open-end mutual fund has the following stocks:
Stock Shares Stock Price
A 13,500 $83
B 33,000 16
C 20,000 59
D 71,000 21
There are 65,000 shares of the mutual fund, and liabilities of $215,000. What is the NAV of the fund? (Do not round intermediate calculations. Round your answer to 2 decimal places. Omit the "$" sign in your response.)

Net asset value

Net asset value is $4,104,500 in total and $63.15 per share

Explanation:

Stock    Shares    Price    Total value (Share x Price)

  A       13,500      $83            $1,120,500

  B       33,000     $16             $528,000

  C       20,000     $59            $1,180,000

  D       71,000      $21             $1,491,000

Total                                       $4,319,500

Net Asset = $4,319,500 - $215,000 = $4,104,500

NAV  = $4,104,500 / 65,000 = $63.15 / share

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