1. Net asset value (NAV) is the total value of all the assets in the mutual fund minus liabilities, divided by the number of shares outstanding. What is the NAV of a mutual fund with assets minus...

1. Net asset value (NAV) is the total value of all the assets in the mutual fund minus liabilities, divided by the number of shares outstanding. What is the NAV of a mutual fund with assets minus liabilities totaling $150 million and with 3,750,000 shares outstanding?

2. Your mutual fund has varying asset allocations of stocks, bonds, and short-term reserves. If it allocates 25% to stocks and 40% to bonds, what percentage of the mutual fund is comprised of short-term reserves?