How much did alec tricity gain or lose

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Problem

Alec Tricity was shocked to find that he could make a better return than his bank. He put away $500/month for 12 months into a mutual fund. He started in January. The price per share of the mutual fund started at $50/share and went down $5/share each month until June. Then, in July, it went up $5/month until December. Did Alec Tricity make money or lose money (ignore fees and loads). Get the instant assignment help. If so, how much did he gain or lose? What was his percentage return? What is this process called?

Reference no: EM133923377

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