Chyra redeemed 175 shares of stock she owned in the fund shown below.Name of FundNAVOffer PriceCAH Group$15.83$16.27What were Chyra’s proceeds?
Answer
A
$77.00
B
$2,770.25
C
$2,847.25
D
$5,617.50
Explanation
When redeeming shares, Chyra receives the NAV per share, not the offer price. Calculate 175 × $15.83 = $2,770.25, so her proceeds were $2,770.25 (choice b).
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