Rochelle invests in 500 shares of stock in the fund shown below. name of fund nav offer price hat mid-cap $18.94 $19.14 rochelle plans to sell all of her shares when she can profit $6,250. what must the net asset value be in order for rochelle to sell?
a. $12.50
b. $31.44
c. $31.64
d. $100.00

Data:

Number of shares: 500

name of fund       nav                offer price
hat mid-cap          $18.94           $19.14

Profit $6,250.

1) Investment = number of shares * offer price = 500 * $ 19.14 = $ 9570

2) Total net value = profit +  investment = $6250 + $9570 = $15820

3) NAV = total net value / number of shares = $15820 / 500 = $31.64

option c: 31.64

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