Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

7. Suppose that you open a mutual fund account with a deposit of 535 dollars. 5 months later, the fund balance is 590 dollars, and

image text in transcribed

7. Suppose that you open a mutual fund account with a deposit of 535 dollars. 5 months later, the fund balance is 590 dollars, and you withdraw 180 dollars. A year after the account was opened, your balance is X dollars. If the dollar weighted and time weighted rates of return were the same, what is the rate of return? (Use simple interest approximation for the dollar weighted calculation.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Finance questions