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Hillier Hillier
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Posts: 550
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6 years ago
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?
Textbook 
Contemporary Business Mathematics with Canadian Applications

Contemporary Business Mathematics with Canadian Applications


Edition: 11th
Authors:
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Replies
wrote...
6 years ago
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
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