It is preferable to use Excel to solve. If you do not use Excel, be sure to show all equations & work. If you use Excel, be sure to attach your Excel spreadsheet file.

Question 19: You are evaluating your accounts performance. The account started at $5,000,000 and generated a +15% return in Year 1, and a -5% (negative 5%) return in Year 2. You put in additional funds of $2,000,000 at the beginning of Year 2. Determine the annualized dollar-weighted return generated by this account.