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Could Somone Help With Question C? Thanks In Advance Scott started a systematic investment program by buying $350.00 worth of mutual funds on the first
Could Somone Help With Question C? Thanks In Advance
Scott started a systematic investment program by buying $350.00 worth of mutual funds on the first day of every month starting on May 1. Mutual funds are purchased in units. Scott 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, $11.80, $12.75, $10.50, $10.60, and $13.15 respectively. Complete parts (a) through (d) below. .... (a) What is the simple average of the unit prices? $ 11.63 (Round to the nearest cent as needed.) (b) What is the total number of units purchased during the first six months? 181.898 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.)Step by Step Solution
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