Your question is Investment Fund and NAV. Take a moment with it on the right.
Talk me through your thinking if you like. When you're confident, submit your answer and I'll grade it like a real screen (7/10 or better passes).
What's an investment fund, and what are NAV and how it’s used?
Explain the structure of an investment fund, define net asset value, show the standard NAV calculation, and describe how NAV is used for subscriptions, redemptions, performance measurement, and financial reporting. No numerical case data or specific fund documents are provided, so state any illustrative assumptions clearly rather than treating them as facts.