Question: Problem 13-8 Using Dollar Cost Averaging (L04) Over a four-year period, Matt purchased shares in the Barreau du Quebec Canadian Equity Fund. Using the information

 Problem 13-8 Using Dollar Cost Averaging (L04) Over a four-year period,

Problem 13-8 Using Dollar Cost Averaging (L04) Over a four-year period, Matt purchased shares in the Barreau du Quebec Canadian Equity Fund. Using the information below, answer the questions that follow. Year 2015 2016 2017 2018 Investment Amount $7,200 $7,200 $7,200 $7,200 Price per Share $54 per share $37 per share $39 per share $49 per share a. At the end of four years, what is the total amount invested? (Omit the "S" sign in your response.) Total amount invested $ b. At the end of four years, what is the total number of mutual fund shares purchased? (Round DOWN your intermediate calculations and final answer to the nearest whole share.) Total number of mutual fund shares c. At the end of four years, what is the average cost for each mutual fund share? (Round DOWN your intermediate calculations to the nearest whole share. Round your final answer to 2 decimal places, Omit the "S" sign in your response.) Average cost of each mutual fund share

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!