× Didn't find what you were looking for? Ask a question
Top Posters
Since Sunday
e
4
h
4
h
4
m
3
d
3
B
3
o
3
w
3
H
3
a
3
c
3
k
3
New Topic  
majarm majarm
wrote...
Posts: 406
Rep: 0 0
6 years ago
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?
Textbook 
Contemporary Business Mathematics with Canadian Applications

Contemporary Business Mathematics with Canadian Applications


Edition: 11th
Authors:
Read 152 times
1 Reply

Related Topics

Replies
wrote...
6 years ago
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
New Topic      
Explore
Post your homework questions and get free online help from our incredible volunteers
  1121 People Browsing
Related Images
  
 75
  
 931
  
 53
Your Opinion
What's your favorite funny biology word?
Votes: 336