Louis Hall read in the paper that Fidelity Growth Fund has an NAV of $16.02. He called Fidelity and asked how the NAV was calculated. Fidelity gave him the following information: Current market value of fund investment Current liabilities Number of shares outstanding Did Fidelity provide Louis with the correct information? Yes No $ 8,550,000 $860,000 480,000
Louis Hall read in the paper that Fidelity Growth Fund has an NAV of $16.02. He called Fidelity and asked how the NAV was calculated. Fidelity gave him the following information: Current market value of fund investment Current liabilities Number of shares outstanding Did Fidelity provide Louis with the correct information? Yes No $ 8,550,000 $860,000 480,000
Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)
7th Edition
ISBN:9780357033609
Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Chapter13: Investing In Mutual Funds, Etfs, And Real Estate
Section: Chapter Questions
Problem 8FPE
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