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Nataliya [291]
1 year ago
7

your client began purchasing shares of the gro mutual fund two years ago. she has followed a dollar cost averaging approach by i

nvesting $2,000 every six months for the last two years. the following data depict her purchases. date net asset value of fund number of shares purchased october 1, 20x6 $44.44 45 april 1, 20x7 $38.46 52 october 1, 20x8 $33.90 59 april 1, 20x9 $48.78 41 what is your client's average cost per share of gro?
Business
1 answer:
Tems11 [23]1 year ago
5 0

The client's average cost per share of GRO is $40.61

<h3>What is the cost per share of stock?</h3>

The most recent price at which a stock has traded is known as the "share price," or market price per share of stock. When the price a buyer is prepared to pay for a stock meets the price a seller is willing to accept for a stock, it happens as a result of market forces. Divide the total cost of the acquisition by the number of shares purchased to arrive at the average price per share.

Given:

Net asset value of fund(X)  Number of shares purchased(Y)            X×Y

$                             44.44                                            45                     $1,999.80

$                             38.46                                            52                     $1,999.92

$                             33.90                                            59                     $2,000.10

$                             48.78                                             41                      $1,999.98

Total                                                                            197                     $7,999.80

Client's average cost per share                                                                                  $ 40.61

Average cost per share = 7999.80/197 = $40.61

To learn more about average cost per share, visit:

brainly.com/question/10375920

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