Question: Leonard started a systematic investment program by buying $200.00 worth of mutual funds on the first day of every month starting on May 1. Mutual
Leonard started a systematic investment program by buying $200.00 worth of mutual funds on the first day of every month starting on May 1. Mutual funds are purchased in units. Leonard purchased as many units as he could with his $200,00, including fractions of units. Unit prices for the first six months were $ 9.00, $9.20 $10.25 $ 8.50, $8.20, and 11.35 respectively. Complete parts (a) through (d)
d) What is the simple average of the unit prices?
(Round to the nearest cent as needed.)
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
