Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

For four years, Marie invested $ 3 , 3 0 0 each year in a bank s stocks. The stocks sold for $ 3 7

For four years, Marie invested $3,300 each year in a banks stocks. The stocks sold for $37 in 20X1, $53 in 20X2, $45 in 20X3, and $55 in 20X4.
a. What is Maries total investment in this bank? (Omit the "$" sign in your response.)
Total investment $
b. After four years, how many shares does Marie own? (Round your intermediate calculations DOWN and round your final answer DOWN to the nearest whole share.)
Total number of shares
c. What is the average cost per share of Maries investment? (Round DOWN your intermediate calculations to the nearest whole share. Round your final answer to 2 decimal places. Omit the "$" sign in your response.)
Average cost per share $

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Project Financing Financial Instruments And Risk Management

Authors: Frank J Fabozzi, Carmel De Nahlik

1st Edition

9811231494, 9789811231490

More Books

Students also viewed these Finance questions

Question

=+ (a) If A(An1) bA(1) for all / and if b Answered: 1 week ago

Answered: 1 week ago

Question

2. Whats involved in listening?

Answered: 1 week ago

Question

1. How do listening and hearing diff er?

Answered: 1 week ago