Over the past 2 years, Jonas Cone has used a dollar-cost averaging formula to purchase $300 worth of FCI common stock each month. The price per share paid each month over the 2 years is given in the following table. Assume that Jonas paid no brokerage commissions on these transactions.
How much was Jonas’s total investment over the 2-year period? b. How many shares did Jonas purchase over the 2-year period? c. Use your findings in parts a and b to calculate Jonas’s average cost per share of FCI. d. What was the value of Jonas’s holdings in FCI at the end of the second year?
