An account has a balance of $100 on January 1, 2020. During 2020, the account had the following investment activity: Value immediately prior to withdrawal Withdrawal March 13, 2020 $105 X September 27, 2020 $95 2X The amount in the account on December 31, 2020 is $85. During 2020, the dollar-weighted yield is 0%. a) (3 pts] Determine the time weighted yield. b) [1 pt) What approximation, if any, was used in the dollar- weighted yield. Explain why the assumption was or was not needed. An account has a balance of $100 on January 1, 2020. During 2020, the account had the following investment activity: Value immediately prior to withdrawal Withdrawal March 13, 2020 $105 X September 27, 2020 $95 2X The amount in the account on December 31, 2020 is $85. During 2020, the dollar-weighted yield is 0%. a) (3 pts] Determine the time weighted yield. b) [1 pt) What approximation, if any, was used in the dollar- weighted yield. Explain why the assumption was or was not needed