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(1 point) Your grandmother gives you 3000 dollars for your birthday, which you invest in a mutual fund on January 1. On June 1, your

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(1 point) Your grandmother gives you 3000 dollars for your birthday, which you invest in a mutual fund on January 1. On June 1, your fund balance is 8000 dollars, and you then deposit 1300 dollars (which you received for your high school graduation). On the following January 1, you calculate that your dollar-weighted rate of return for the year was 31.1 percent. What was your time-weighted rate of return for the year? Answer = 56.428863205 percent. (1 point) Your grandmother gives you 3000 dollars for your birthday, which you invest in a mutual fund on January 1. On June 1, your fund balance is 8000 dollars, and you then deposit 1300 dollars (which you received for your high school graduation). On the following January 1, you calculate that your dollar-weighted rate of return for the year was 31.1 percent. What was your time-weighted rate of return for the year? Answer = 56.428863205 percent

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