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(5) Abiyote invested $24,500 on January 1, 1994 in the Utopia Fund. On May 1, 1995, his balance was $28,212 and he withdrew $10,000. On

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(5) Abiyote invested $24,500 on January 1, 1994 in the Utopia Fund. On May 1, 1995, his balance was $28,212 and he withdrew $10,000. On December 1, 1995, his balance was $15,892, and he deposited $8,000. On January 1, 1997 his balance was $30,309. (a) Find the annual time-weighted yield for the Utopia Fund for the three-year period from January 1, 1994 until January 1, 1997. (b) Find an annual dollar-weighted yield received by Abiyote for the three-year period from January 1, 1994 until January 1, 1997. (c) (recommended for those with a BA II Plus calculator ) Find the yield received by Abiyote for the three-year period from January 1, 1994 until January 1, 1997, correct to the nearest millionth of a percent. (d) Compare the time-weighted yield experienced by the Utopia Fund and the yield received by Abiyote from his investment in the Utopia Fund. Discuss why the inequality between them is in the direction it is

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