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gewusel gewusel
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6 years ago
Don Blair invested $11 500 in a business on January 1. She withdrew $700 on March 1, reinvested $1800 on August 1, and withdrew $500 on September 1. What is Don's average monthly investment balance for the year?
Textbook 
Contemporary Business Mathematics with Canadian Applications

Contemporary Business Mathematics with Canadian Applications


Edition: 11th
Authors:
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wrote...
6 years ago
Weighted investment:
January 1 - February 28:   11500 × 2/12 = 1916.6667
March 1 - July 31:   10800 × 5/12 = 4500.0000
August 1 - August 31:   12600 × 1/12 = 1050.0000
September 1 - December 31:   12100 × 4/12 = 4033.3333
Average investment balance =   $11500
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