james invests $100 at the beginning of each quarter in stock abc. according to the table below, how many…

james invests $100 at the beginning of each quarter in stock abc. according to the table below, how many shares of abc will james own at the end of the year?\n\n| abc | stock price |\n| ---- | ---- |\n| q1 | $10.50 |\n| q2 | $11.50 |\n| q3 | $9.00 |\n| q4 | $10.50 |\n\na. 44 shares\nb. 37 shares\nc. 38 shares\nd. 41 shares

james invests $100 at the beginning of each quarter in stock abc. according to the table below, how many shares of abc will james own at the end of the year?\n\n| abc | stock price |\n| ---- | ---- |\n| q1 | $10.50 |\n| q2 | $11.50 |\n| q3 | $9.00 |\n| q4 | $10.50 |\n\na. 44 shares\nb. 37 shares\nc. 38 shares\nd. 41 shares

Answer

Answer:

C. 38 shares

Explanation:

Step1: Calculate shares in Q1

Number of shares in Q1 = $\frac{100}{10.50}\approx9.52$

Step2: Calculate shares in Q2

Number of shares in Q2 = $\frac{100}{11.50}\approx8.70$

Step3: Calculate shares in Q3

Number of shares in Q3 = $\frac{100}{9.00}\approx11.11$

Step4: Calculate shares in Q4

Number of shares in Q4 = $\frac{100}{10.50}\approx9.52$

Step5: Calculate total shares

Total shares = $9.52 + 8.70+11.11 + 9.52=38.85\approx38$ (rounded down as we can't have a fraction of a share in this context)