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Nyromi redeemed 250 shares of stock she owned in the fund shown below.

\begin{tabular}{|c|c|c|}
\hline Name of Fund & NAV & Offer Price \\
\hline Upton Group & [tex]$\$[/tex] 18.47[tex]$ & $[/tex]\[tex]$ 18.96$[/tex] \\
\hline
\end{tabular}

What were Nyromi's proceeds?

a. [tex]$\$[/tex] 4,617.50[tex]$
b. $[/tex]\[tex]$ 4,685.00$[/tex]
c. [tex]$\$[/tex] 4,470.50[tex]$
d. $[/tex]\[tex]$ 4,740.00$[/tex]

Please select the best answer from the choices provided:
A, B, C, or D



Answer :

GinnyAnswer
To determine Nyromi's proceeds from redeeming her 250 shares, follow these steps:

1. Identify the Net Asset Value (NAV):
The NAV, which is the price at which the shares are redeemed, is given as \[tex]$18.47 per share. 2. Determine the number of shares redeemed: Nyromi is redeeming 250 shares. 3. Calculate the total proceeds: To find the total proceeds, multiply the NAV by the number of shares redeemed: \[ \text{Proceeds} = \text{NAV} \times \text{Number of Shares} = 18.47 \times 250 \] 4. Execute the multiplication: \[ 18.47 \times 250 = 4617.50 \] 5. Select the correct answer: Comparing the calculated proceeds with the given choices: a. \$[/tex]4,617.50

b. \[tex]$4,685.00 c. \$[/tex]4,470.50

d. \[tex]$4,740.00 The calculated proceeds, \$[/tex]4,617.50, match option (a).

Therefore, the best answer is:
a. \$4,617.50

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