A mutual fund has 1,774 shares of General Electric, currently trading at $22, and 1,581 shares of Microsoft, Inc., currently trading at $55. The fund has 1,761 shares outstanding. If investors expect the price of General Electric to increase by $10 and the price of Microsoft to decline by $5 by the end of the year, what is the expected NAV at the end of the year? (Do not round intermediate calculations. Round your answers to 2 decimal places. (e.g., 32.16))

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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A mutual fund has 1,774 shares of General Electric, currently trading at $22, and 1,581 shares of Microsoft, Inc., currently trading at $55. The fund has 1,761 shares outstanding. If investors expect the price of General Electric to increase by $10 and the price of Microsoft to decline by $5 by the end of the year, what is the expected NAV at the end of the year? (Do not round intermediate calculations. Round your answers to 2 decimal places. (e.g., 32.16))

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