For four years, Mary Nations invested $6,600 each year in America Bank stock. Th
ID: 2760308 • Letter: F
Question
For four years, Mary Nations invested $6,600 each year in America Bank stock. The stock was selling for $43 in 2010, for $49 in 2011, $41 in 2012, and for $61 in 2013.
What is Mary’s total investment in America Bank?
After four years, how many shares does Mary own? (Round your intermediate calculations and final answer to 1 decimal place.)
What is the average cost per share of Mary’s investment? (Round your intermediate calculations and final answer to 1 decimal place.)
For four years, Mary Nations invested $6,600 each year in America Bank stock. The stock was selling for $43 in 2010, for $49 in 2011, $41 in 2012, and for $61 in 2013.
Explanation / Answer
A) Total investment = $6,600*4years
= $26400
B) No of shares Mary own:
Year
Investment
Stock price
No of stock
1
6600
43
153.49
2
6600
49
134.69
3
6600
41
160.98
4
6600
61
108.20
Total
26400
557.35
= Total investment / No of stock
= 26400/557.35
= $47.37 Price per stock
Year
Investment
Stock price
No of stock
1
6600
43
153.49
2
6600
49
134.69
3
6600
41
160.98
4
6600
61
108.20
Total
26400
557.35
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