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An investment manager's portfolio begins the year with a value of 100,000. Eleven months through the year a withdrawal of 50,000 is made and the

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An investment manager's portfolio begins the year with a value of 100,000. Eleven months through the year a withdrawal of 50,000 is made and the value of the portfolio after the withdrawal is 57,000. At the end of the year the value of the portfolio is 60,000. Find the time-weighted rate of return for the year

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