Question: No excel spreadsheet answer. Please show step by step. Correct answer is E. Please show steps to get answer. 10. The balance of an investment

No excel spreadsheet answer. Please show step by step. Correct answer is E. Please show steps to get answer.

No excel spreadsheet answer. Please show step by
10. The balance of an investment fund at the beginning of the year and at the end of the year is $20,000 and $26,000, respectively. A withdrawal of $2,000 was madeat the end of 5 months. A deposit of K was made at the end of 6 months, and another deposit of 2K was made at the end of 9 months. . The dollar-weighted rate of interest earned by the fund over the year is 8%. . Determine K. A) 953 B) 1,238 C) 1,599 D) 1,835 E) 2, 108

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