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A quotation for a mutual fund shows a NAV of $9.60 and an offer price of...

A quotation for a mutual fund shows a NAV of $9.60 and an offer price of $10.00. With an investment of $1,000, you could buy [104.17 | 100] shares.

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Answer #1

NAV is the asset value per share of mutual fund

Offer Price is the price at which a new share is sold

Hence, with an investment of $1,000,

The number of shares which can be purchased = 1,000/10

= 100 shares

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