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Lada Lada
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4 years ago
Kim invested $7500 in a business for 3 months. She withdrew $2500 at the start of the fourth month and kept the rest of the money in the savings account for the remaining 9 months in the year. What is Kim's average monthly investment balance for the year?
A) $833
B) $1042
C) $3750
D) $5625
E) $5000
Textbook 

Contemporary Business Mathematics with Canadian Applications


Edition: 11th
Authors:
Read 585 times
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Answer verified by a subject expert
SupremeSupreme
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Posts: 374
4 years ago Edited: A month ago, bio_man
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More questions for this book are available here
Investment for 3 months = 7500

Investment for next 9 months = 7500 – 2500 = 5000

Average investment balance = (7500*3 + 5000 *9)/12

Answer is $5625

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