Dollar cost averaging is when an investor purchases the same dollar amount of securities every time period. In that way, she purchases more shares when the price is low and fewer shares when the price is high. Suppose you invest $200 monthly for a year at the given share prices. What is your average share price after a year of investing?

month mutual fund share price shares purchased

1 $ 5.00 40.00

2 $ 5.10

3 $ 4.30

4 $ 3.30

5 $ 3.75

6 $ 3.60

7 $ 5.00

8 $ 5.50

9 $ 4.30

10 $ 4.75

11 $ 5.00

12 $ 5.50