Quiz – End-of-Year NAV for a Mutual Fund with Growth and Fees
Essentials of Investments
Bodie, Kane, and Marcus
12th Edition
Determine the end-of-year net asset value (NAV) for a mutual fund, starting with its initial assets and shares outstanding, accounting for its asset growth rate and the imposition of a 12b-1 fee based on year-end asset values, assuming no distributions are made.
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