a certain mutual fund has net assets of $1,359,600. one share of this fund has a net asset value of $11.33…

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?\na. 833\nb. 120,000\nc. 1,359,600\nd. 15,404,268

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?\na. 833\nb. 120,000\nc. 1,359,600\nd. 15,404,268

Answer

Explanation:

Step1: Identify the formula

The number of shares = Total net - assets / Net - asset value per share.

Step2: Substitute the values

Let the total net - assets be $1,359,600$ and the net - asset value per share be $11.33$. Then the number of shares $n=\frac{1359600}{11.33}$.

Step3: Calculate the result

$n = 120000$.

Answer:

B. 120,000