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# If $4500 dollars was invested in a bond fund when the price  post reply Question banks Downloads My Bookmarks Reviews Important topics Author Message Manager Joined: 08 Sep 2006 Posts: 51 Followers: 0 Kudos [?]: 33 [0], given: 0 If$4500 dollars was invested in a bond fund when the price [#permalink]

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23 Jul 2007, 18:40
This topic is locked. If you want to discuss this question please re-post it in the respective forum.

If $4500 dollars was invested in a bond fund when the price per share was$9 and $3000 was invested when the price was$10, What is the average price per share?

a) 9.40
b) 9.375
c) 9.50
d) 9.75
e) 10.0

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23 Jul 2007, 18:42
(4500 + 3000)/(500 + 300) = 75/8

9.375

500 is the number of shares bought when its $9 300 is the number of shares bought when its$10

total cost/total shares = avg. cost per share
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23 Jul 2007, 18:44
# of shares issued with 4500 invested at pps of 9 = 4500/9 = 500
# of shares issued with 3000 invested at pps of 10 = 3000/10 = 300

TOtal number of shares = 800
Total amount invested = 7500

Average PPS = 7500/800 = 75/8 = 9.375
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23 Jul 2007, 18:49
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23 Jul 2007, 20:11
B. $9.375 Total price of all shares bought ($7500)

Divided by number of shares purchased at each price ( 500+ 300 = 800)

$7500/800 =$9.375
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24 Jul 2007, 08:30
tinman1412 wrote:
If $4500 dollars was invested in a bond fund when the price per share was$9 and $3000 was invested when the price was$10, What is the average price per share?

a) 9.40
b) 9.375
c) 9.50
d) 9.75
e) 10.0

I would add that with a simple glance you can get rid of 3 of the answers immediately.