Your parents will retire in 25 years. They currently have $400,000, and they think they will need $1,450,000 at retirement. What annual interest rate must they earn to reach their goal, assuming they don't save any additional funds? Round your answer to two decimal places.
City Street Fund has a portfolio of $415 million and liabilities of $15 million.
a. If there are 80 million shares outstanding, what is net asset value?
Net asset value $
b-1. If a large investor redeems 3 million shares, what happens to the portfolio value? (Enter your answer in millions.)
Portfolio value (Click to select)increasesdecreases to $ million.
b-2. If a large investor redeems 3 million shares, what happens to shares outstanding? (Enter your answer in millions.)
Shares outstanding (Click to select)increasesdecreases to million.
b-3. If a large investor redeems 3 million shares, what is net asset value?
Net asset value $