Over a four-year period, Matt Ewing purchased shares in the Barreau du Quebec Canadian Equity Fund. Using
Question:
Over a four-year period, Matt Ewing purchased shares in the Barreau du Quebec Canadian Equity Fund. Using the information below, answer the following questions.
Year Investment Amount Price per share
2004...................$3,000.......................$40 per share
2005...................$3,000.......................$50 per share
2006....................$3,000.......................$60 per share
2007...................$3,000.......................$45 per share
a. At the end of four years, what is the total amount invested?
b. At the end of four years, what is the total number of mutual fund shares purchased?
c. At the end of four years, what is the average cost for each mutual fund share?
Step by Step Answer:
Personal Finance
ISBN: 978-1259453144
6th Canadian edition
Authors: Jack Kapoor, Les Dlabay, Robert J. Hughes, Arshad Ahmad, Jordan Fortino