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In June an investor purchased 300 shares of Oracle (an
Chapter 3, Problem 13E(choose chapter or problem)
In June an investor purchased 300 shares of Oracle (an information technology company) stock at $20 per share. In August she purchased an additional 400 shares at $25 per share. In November she purchased an additional 400 shares, but the stock declined to $23 per share. What is the weighted mean price per share?
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QUESTION:
In June an investor purchased 300 shares of Oracle (an information technology company) stock at $20 per share. In August she purchased an additional 400 shares at $25 per share. In November she purchased an additional 400 shares, but the stock declined to $23 per share. What is the weighted mean price per share?
ANSWER:Step 1 of 3
The number of shares purchased by investor in June = 300.
Stock price per share = $20.
Similarly, The number of shares purchased by investor in August = 400.
Stock price per share = $25.
The number of shares purchased by investor in August = 400.
Stock price per share = $23.