A mutual fund shows a NAV of $32.65 and a minimum initial investment of $5,000. To invest in this fund, how many shares must you buy?

To determine how many shares you need to buy to meet the minimum initial investment requirement of $5,000 with a net asset value (NAV) of $32.65 per share, you perform a simple calculation.

You divide the total amount you want to invest, which is $5,000, by the NAV of the mutual fund, which is $32.65. This calculation looks like this:

[

\text{Number of shares} = \frac{\text{Total Investment}}{\text{NAV}} = \frac{5000}{32.65} \approx 153.63

]

Since you cannot purchase a fraction of a share in most cases, you round up to the next whole number. This means you would need to buy 154 shares to meet or exceed the investment threshold of $5,000. Therefore, the correct answer reflects the minimum number of shares needed to reach the initial investment requirement.