Net asset values at the end of each month for the no-load Currier & Ives fund are shown below. Holly Tannenbaum invests $500 in the fund each month through an automatic investment plan. Compute:
a. the number of shares purchased each month
b. the number of shares she owns at the end of December
c. the average price of the shares over the period
d. the average price per share paid by Holly
Month NAV end of month Shares purchased
July 12.85
August 11.08
September 9.99
October 9.85
November 13.55
December 12.21
What will be an ideal response?
Answer:
Month NAV end of month Shares purchased
July 12.85 38.91
August 11.08 45.13
September 9.99 50.05
October 9.85 50.76
November 13.55 36.90
December 12.21 40.95
Total shares 262.70
Average price over the period 11.59
Average price paid by Holly 11.42
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