Darrin used dollar-cost averaging to buy some shares of a company last year. Each quarter, he bought
Question:
Darrin used dollar-cost averaging to buy some shares of a company last year. Each quarter, he bought as many shares as he could with $2000. When Darrin bought his shares during the first quarter, the company's share price was $11.12, and during the next 3 quarters, the company's share price was $9.09, $13.57, and $14.93, respectively. Let's figure out how many shares of the company Darrin bought in total last year.
Part I: How many shares of the company did Darrin buy in the first quarter of last year?
Part II: How many shares of the company did Darrin buy in the second quarter of last year?
Part III: How many shares of the company did Darrin buy in the third quarter of last year?
Part IV: How many shares of the company did Darrin buy in the fourth quarter of last year?
Modern Advanced Accounting in Canada
ISBN: 978-1259087554
8th edition
Authors: Hilton Murray, Herauf Darrell