Over a four-year period, Matt Ewing purchased shares in the Oakmark I 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.

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?

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Investment Investment Am ount Year Price per sh are 2013 2014 2015 2016 $3,000 $3,000 $3,000 $3,000 $40 $45 $42 per share per share per share $50 per share