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Title: Jessica Hughes invested $40 000 on January 1 in a partnership. She withdrew $15 000 on June 1, ... Post by: Hillier on Nov 25, 2017 Jessica Hughes invested $40 000 on January 1 in a partnership. She withdrew $15 000 on June 1, withdrew a further $2000 on August 1, and reinvested $8 000 on November 1. What was her average monthly investment balance for the year?
Title: Re: Jessica Hughes invested $40 000 on January 1 in a partnership. She withdrew $15 000 on June 1, ... Post by: yacom on Nov 25, 2017 January 1 - May 31: 40000 × 5 = 200000
June 1 - July 31: 25000 × 2 = 50000 August 1 - October 31: 23000 × 3 = 69000 November 1 - December 31: 31000 × = 62000 Total 381000 Average monthly investment = = $31 750.00 |