Using dollar-cost averaging will help you reduce your risk over time by ensuring that you do not try to time the market. An investor regularly contributes $20 000 to his DRIP account for five years. The share price fluctuates over time as follows:

(a) Calculate the investor€™s average cost per share.
(b) Calculate the value of the investment after five years.
(c) Calculate the yield of the investments.

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Year 1 Year 2 Year 3 Year 4 Year 5 $22.00 $25.00 $21.50 31.20 $36.70