a mutual fund has a POP of 9 a NAV of 8.50 and an underwriters concession of .10 how many shares could be purchased if an investor has 2000 to invest?
222.2
To calculate the number of shares that can be purchased, we need to use the following formula:
Number of shares = Investment amount / (NAV + Underwriter’s concession)
Here, the investment amount is $2000, the NAV is $8.50, and the underwriter’s concession is $0.10.
Substituting these values, we get:
Number of shares = $2000 / ($8.50 + $0.10)
Number of shares = $2000 / $8.60
Number of shares = 232.56 (rounded to the nearest whole number)
Therefore, the investor can purchase approximately 233 shares of the mutual fund with an investment of $2000, based on the given information about POP, NAV, and underwriter’s concession.
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