6. [7/16 Points] DETAILS PREVIOUS ANSWERS BRECMBC9 20.1.031. Although investing all at once works best when stock prices are nsing, dollar-cost averaging can be a good way to take advantage of a fluctuating market. Dollar-cost averaging is an investment securities are purchased in fixed dollar amounts at regular intervals regardless of what direction the market is moving. This strategy is also called the constant dollar plan. You are considering a hypothetical $1,200 investment in a media company's stock. Your choice is to invest the money all at once or dollar-cost average at the rate of $100 per month for one year purchase "fractional" shares of its stack (a) If you mvested all of the money in January and bought the shares for $12 each, how many shares could you buy? 100 shares (b) From the following chart of share prices, calculate the number of shares that would be purchased each month using dollar-cost averaging and the total shares for the year. Round to the neam Month Amount Invested Cost per share Shares Purchased Month Amount Invested Cost per Share Shares Purchased January $100 $12.00 05 + July $100 $13.40 February 100 11.55 0.0 x August 100 12.10 March 100 10.00 R September 100 1.80 A x Apr 100- 9,00 12.0 x October 100 12.601 3 May 100 11.05 November 100 11.45 137 June 100 17.25 03 December 100 12.15 02 total shares (6) What is the average price you pay per share if you purchase them all in January? (a) What is the average price you pay per share if you purchase them using dollar cost averaging) (Round your answer to the nearest cent.)