Sorry, not a math guy, this might be an overly simple question for the lot of you, but it's a calculation that I'll have to do a lot possibly, so please show me the best way to do it. If I have $1265$ shares of XYZ Company that were bought at an average price of $\$3.95$, and $3949$ shares of the same XYZ Company that were bought at $\$5.03$, how can I find the average combined price for the $5214$ ($1265 + 3949$) shares? Thanks.
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The cost of your $1265$ shares was $(1265)(3.95)$. The cost of your $3949$ shares was $(3949)(5.03)$. Total cost: $(1265)(3.95)+(3949)(5.03)$. Total shares: $1265+3949$. Average cost per share: $\dfrac{(1265)(3.95)+(3949)(5.03)}{1265+3949}$. |
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