Noel has 12,456 units in a Managed Fund with a unit price of €1.455. What is the current encashment value of his plan?

To determine the current encashment value of Noel's managed fund, you need to multiply the number of units he holds by the unit price. In this case, Noel has 12,456 units, and the unit price is €1.455.

The calculation goes as follows:

[ \text{Encashment Value} = \text{Number of Units} \times \text{Unit Price} ]

Plugging in the numbers:

[ \text{Encashment Value} = 12,456 \times 1.455 ]

Calculating this gives:

[ \text{Encashment Value} = 18,122.88 ]

When rounded, this amount is approximately €18,123. This figure represents the total value Noel can encash from his investment in the managed fund, which is why this answer is correct and aligns with the provided answer choice. The importance of multiplying the number of units by the unit price is fundamental in investment calculations and is used to assess the current worth of investments in various types of financial instruments, including managed funds.