To determine Nyromi's proceeds from redeeming her 250 shares, follow these steps:
1. Identify the Net Asset Value (NAV):
The NAV, which is the price at which the shares are redeemed, is given as \[tex]$18.47 per share.
2. Determine the number of shares redeemed:
Nyromi is redeeming 250 shares.
3. Calculate the total proceeds:
To find the total proceeds, multiply the NAV by the number of shares redeemed:
\[
\text{Proceeds} = \text{NAV} \times \text{Number of Shares} = 18.47 \times 250
\]
4. Execute the multiplication:
\[
18.47 \times 250 = 4617.50
\]
5. Select the correct answer:
Comparing the calculated proceeds with the given choices:
a. \$[/tex]4,617.50
b. \[tex]$4,685.00
c. \$[/tex]4,470.50
d. \[tex]$4,740.00
The calculated proceeds, \$[/tex]4,617.50, match option (a).
Therefore, the best answer is:
a. \$4,617.50
