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Title: Tommy Hughes invested $10 000 in a business on January 1. He withdrew $1000 on March 1, reinvested ... Post by: majarm on Nov 25, 2017 Tommy Hughes invested $10 000 in a business on January 1. He withdrew $1000 on March 1, reinvested $5000 on July 1, and withdrew $4000 on October 1. What is Tommy's average monthly investment balance for the year?
Title: Re: Tommy Hughes invested $10 000 in a business on January 1. He withdrew $1000 on March 1, ... Post by: yacom on Nov 25, 2017 Weighted investment:
January 1 - February 28: 10000 × 2/12 = 1666.6700 March 1 - June 30: 9000 × 4/12 = 3000.0000 August 1 - August 31: 14000 × 3/12 = 3500.0000 September 1 - December 31: 10000 × 3/12 = 2500.0000 Average investment balance = $10666.67 |