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Problem 16-14 Using Dollar Cost Averaging (L016-4] Over a four-year period, Matt Ewing purchased shares in the Oakmark | Fund

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Answer #1
  1. At the end of four years, what is the total amount invested?

Answer: $24,800

Year

Amount invested

2016

$6,200

2017

$6,200

2018

$6,200

2019

$6,200

Total amount invested

$24,800

  1. At the end of four years, what is the total number of mutual fund shares purchased

Answer: 604.4359

Year

Investment amount

Price per share

Number of shares purchased

(I)

(II)

(III)

(IV) = (II ÷III)

2016

$6,200

$57

108.7719

2017

$6,200

$41

151.2195

2018

$6,200

$30

206.6667

2019

$6,200

$45

137.7778

Total number of shares purchased over 4 years

604.4359

Note:

Each year investment amount = Price per share * Number of shares purchased

Therefore number of shares purchased = Investment amount ÷ Price per share

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