question archive IsTech investment company has a $750 million shariah compliant fund focusing on commodities
IsTech investment company has a $750 million shariah compliant fund focusing on commodities
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IsTech investment company has a $750 million shariah compliant fund focusing on commodities. Its fund expenses are $20 million with Net Asset Value (NAV) $200. What is the number of fund shares?
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NAV = (Fund Value - Fund Expenses) / Number of shares
we are given the following
NAV = 200
Fund Value = 750,000,000
Fund Expenses = 20,000,000
Number of shares = to be calculated
Therefore we have the following equation
200 = (750,000,000 - 20,000,000) / Number of shares
Number of shares = 730,000,000 / 200
Number of shares = 3,650,000
