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Marcel must temporarily invest extra money in his retail business every fall to purchase additional ...

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Marcel must temporarily invest extra money in his retail business every fall to purchase additional ...

Marcel must temporarily invest extra money in his retail business every fall to purchase additional inventory for the Christmas season. On September 1 he already had a total of $57,000 invested in his business. Subsequently, he invested or withdrew cash on various dates as shown in the following table:

Date	Additional injection or withdrawal
Oct. 1	$15,000 injection
Nov. 1	$27,000 injection
Feb. 1	$23,000 withdrawal
March 1	$13,000 withdrawal
May 1	$6,000 withdrawal

What was the average cumulative investment in the business during the period from September 1 to August 31? (Assume that each month has the same length. )

Textbook

Business Mathematics in Canada

Edition: 11^th

Authors: Jerome, Worswick

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