Over a four-year period, Matt Ewing purchased shares in the ClearBridge Large-

Cap Value Fund. Using the following information, answer the questions below. You may want to review the concept of dollar cost averaging in Chapter 14 before completing this problem.

1. At the end of four years, what is the total amount invested?

2. At the end of four years, what is the total number of mutual fund shares purchased?

3. At the end of four years, what is the average cost for each mutual fund share?

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Year Investment Amount Price per Share 2018 $27 per share 2019 $35 per share 2020 $32 per share 2021 $34 per share $3,000 $3,000 $3,000 $3,000