11. Hugh invests 1000 in a fund on January 1. On May 1, the fund is...

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11. Hugh invests 1000 in a fund on January 1. On May 1, the fund is worth 1,100 and 600 is withdrawn. On September 1, the fund is worth 400 and 600 is deposited. On January 1 of the following year, the fund is worth 1,200. Hugh's dollar-weighted rate of return for the year (computed using simple interest from the date of each payment) is X. His time-weighted rate of return is Y. Determine X - Y. 11. Hugh invests 1000 in a fund on January 1. On May 1, the fund is worth 1,100 and 600 is withdrawn. On September 1, the fund is worth 400 and 600 is deposited. On January 1 of the following year, the fund is worth 1,200. Hugh's dollar-weighted rate of return for the year (computed using simple interest from the date of each payment) is X. His time-weighted rate of return is Y. Determine X - Y.