Question

For four years, Marty Campbell invested $6,500 each year in Harley-Davidson. The stock was selling for $84 in 2014, $72 in 2015, $56 in 2016, and $74 in 2017 a. What is Marty's total investment in Harley-Davidson? Total investment b. After four years, how many shares does Marty own? (Do not round intermediate calculations. Round your answer place.) to 1 decimal Number of shares c. What is the average cost per share of Marty's investment? (Use the rounded number of shares computed in part b. Round your answer to 2 decimal places.) Average cost per share

Answer 1

Answer:

Step-by-step explanation:

Part A

Total investment = 6500 * 4 = 26000

Part B

2014: 6500 / 84 = 77.38

2015: 6500 / 72 = 90.7777

2016: 6500 / 56 = 116.0714

2017: 6500 / 74 = 87.8378

Total number of shares (unrounded) = 372.06694

Rounded answer: 372.1

Part C

Marty has paid 6500*4 for his shares 26000

The average cost is 26000 / 372.1 = 69.87.   2016 sure helped him