Homework Answers
Given
| Year | Amount invested | Price Per Share |
| 2015 | $4300 | $50 |
| 2016 | $4300 | $35 |
| 2017 | $4300 | $34 |
| 2018 | $4300 | $46 |
Here, we might think that the total amount must be 4*4300 as we have invested the same amount in all four years. But that's an incorrect solution,
The correct approach is to find the total number of shares purchased and then multiply them by the year-end price
i.e.$46
Hence,
In 2015
Number of shares purchase = 4300/50 = 86
Similarly.
In 2016
Number of shares purchase = 4300/35 = 122.86
In 2017
Number of shares purchase = 4300/34 = 126.47
In 2018
Number of shares purchase = 4300/46 = 93.48
So, total number of shares are 86 +122.86 + 126.47 + 93.48 = 428.8
Hence, Total amount invested = 438.8 * 46 = 20184.8
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