Nezzie invests in 300 shares of stock in the fund shown below. Name of Fund NAV Offer Price LKIT Mid-Cap $16.58 $16.99 Nezzie plans to sell all of her shares when she can profit $5,000. What must the net asset value be in order for Nezzie to sell?

a. $16.67

b. $33.25

c. $33.57

d. $33.66

Option d. $33.66 would be correct answer.

Step-by-step explanation:

Nezzie invests stock in a fund = 300 shares

NAV of the fund at the time of purchase = $16.58

Offer price = $16.99

Nezzie cost price of purchase = 16.99 * 300 = $5097

She plans to sell her shares when she can profit of $5,000

So she must sell when the cost of 300 shares would be

= 5000 + 5097 = $10,097

To find NAV for 300 shares of valued $10,097.00 we simply divide

10,097 : 300 = 33.6566 rounded to $33.66

Nezzie must sell her 300 shares when NAV value be $33.66 to get the profit of $5000.

D - thirty three and sixty six cent $33.66