Question: Leonard started a systematic investment program by buying $350.00 worth of mutual funds on the first day of every month starting on June 1.
Leonard started a systematic investment program by buying $350.00 worth of mutual funds on the first day of every month starting on June 1. Mutual funds are purchased in units. Leonard purchased as many units as he could with his $350.00, including fractions of units. Unit prices for the first six months were $11.00. $11.40, $12.25, $10.50, $10.80, and $13.65 respectively Complete parts (a) through (d) below. (a) What is the simple average of the unit prices? (Round to the nearest cent as needed.) (b) What is the total number of units purchased during the first six months? units (Round to three decimal places as needed.) (c) What is the average cost of the units purchased? (Round to the nearest cent as needed.). (d) What is the value of Leonard's mutual fund holdings on November 30 if the unit price is $12.70 on that date? $(Round to the nearest cent as needed.) Next
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