A mutual fund has an offer price of $7.75. If you invested a lump sum of $12,000, how many shares did you purchase? (Round to the nearest thousandth)

Name: A mutual fund has an offer price of $7.75. If you invested a lump sum of $12,000, how many shares did you purchase? (Round to the nearest thousandth)
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Question

Quizplus · Accepted Answer

To find the number of shares purchased, divide the total investment by the offer price per share: $12,000 / $7.75 = 1,548.387 shares, rounded to the nearest thousandth.

A Mutual Fund Has an Offer Price of $7