Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Over a four-year period, Pat purchased shares in the Barreau du Quebec Canadian Equity Fund as recorded in the table below. Using the information below,

Over a four-year period, Pat purchased shares in the Barreau du Quebec Canadian Equity Fund as recorded in the table below. Using the information below, provide your solution to the following questions.

Year Investment Amount Price per Share
2018 $4,300 $50 per share
2019 $4,300 $35 per share
2020 $4,300 $34 per share
2021 $4,300 $46 per share

a. At the end of four years, what is the total amount invested? (Omit the "$" sign in your response.) Total amount invested $ b. At the end of four years, what is the total number of mutual fund shares purchased? (Round DOWN your intermediate calculations and final answer to the nearest whole share.) Total number of mutual fund shares c. At the end of four years, what is the average cost for each mutual fund share? (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 of each mutual fund 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

Innovation In Public Transport Finance

Authors: Shishir Mathur

1st Edition

1138250139, 978-1138250130

More Books

Students also viewed these Finance questions

Question

Organize and support your main points

Answered: 1 week ago

Question

Move smoothly from point to point

Answered: 1 week ago

Question

Outlining Your Speech?

Answered: 1 week ago