Bright Future Investment Fund has a balance of $1,203,000 on January 1. On May 1, the...
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Bright Future Investment Fund has a balance of $1,203,000 on January 1. On May 1, the balance is $1,220,000. Immediately after this balance is noted, $800,000 is added to the fund. If there are no further contributions to the fund for the year and the time-weighted annual yield for the fund is 15%, what is the fund balance at the end of the year? (Round your answer to the nearest cent.) Bright Future Investment Fund has a balance of $1,203,000 on January 1. On May 1, the balance is $1,220,000. Immediately after this balance is noted, $800,000 is added to the fund. If there are no further contributions to the fund for the year and the time-weighted annual yield for the fund is 15%, what is the fund balance at the end of the year? (Round your answer to the nearest cent.)
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To solve this problem we need to use the formula for timeweighted rate of return TWRR 1 HPR1 x 1 HPR... View the full answer
Related Book For
Matching Supply with Demand An Introduction to Operations Management
ISBN: 978-0073525204
3rd edition
Authors: Gerard Cachon, Christian Terwiesch
Posted Date:
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