For four years, Mary Thomas invested $4,400 each year in America Bank stock. The stock was selling for $72 in 2018, for $68 in 2019, for $69 in 2020, and for $61 in 2021. a. What is Mary's total investment in America Bank? b. After four years, how many shares does Mary own? Note: Round your intermediate calculations to 1 decimal place. Round up your final answer to the nearest whole unit. c. What is the average cost per share of Mary's investment? Note: Round up your intermediate value of "Total shares" to the nearest whole unit. Round your final answer to 2 decimal places. a. Total investment b. Total shares c. Average cost per share $ 17,600 65 x $4,876.92 x
For four years, Mary Thomas invested $4,400 each year in America Bank stock. The stock was selling for $72 in 2018, for $68 in 2019, for $69 in 2020, and for $61 in 2021. a. What is Mary's total investment in America Bank? b. After four years, how many shares does Mary own? Note: Round your intermediate calculations to 1 decimal place. Round up your final answer to the nearest whole unit. c. What is the average cost per share of Mary's investment? Note: Round up your intermediate value of "Total shares" to the nearest whole unit. Round your final answer to 2 decimal places. a. Total investment b. Total shares c. Average cost per share $ 17,600 65 x $4,876.92 x
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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I do not know why part b and c were marked wrong here :(
Transcribed Image Text:For four years, Mary Thomas invested $4,400 each year in America Bank stock. The stock was selling for $72 in 2018, for $68 in 2019,
for $69 in 2020, and for $61 in 2021.
a. What is Mary's total investment in America Bank?
b. After four years, how many shares does Mary own?
Note: Round your intermediate calculations to 1 decimal place. Round up your final answer to the nearest whole unit.
c. What is the average cost per share of Mary's investment?
Note: Round up your intermediate value of "Total shares" to the nearest whole unit. Round your final answer to 2 decimal
places.
a. Total investment
b. Total shares
c. Average cost per share
$
17,600
65 x
$ 4,876.92
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