FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

As of January 1, an investor had already provided 63,000 USD in a business. On February 1, he invested another 5.000 USD. On June 1,

  1. As of January 1, an investor had already provided 63,000 USD in a business. On February 1, he invested another 5.000 USD. On June 1, he withdrew 12.000 USD On November 1, he injected 3,000 USD. What was his average cumulative investment in the business during the year? Assume that all months have the same length, or weighting (12 months per year or 360 days per year). Answer: 61,083.33

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Recommended Textbook for

Fundamentals Of Investing

Fundamentals Of Investing

Authors: Scott B. Smart, Lawrence J. Gitman, Michael D. Joehnk

14th Edition

0135175216, 978-0135175217

More Books

Students also viewed these Finance questions

Question

★★★★★
Mustafa can receive a $77 discount if he pays his property taxes early. Alternatively, he can pay the full amount of $2250 when payment is due in nine months. Which alternative is to his advantage if...

Answered: 1 week ago

Question

★★★★★
5 . The functional constraints of a linear model with nonnegative variables are 3 X 1 + 5 x 5 16 and 4X 1 + X 25 10 . Which of the following points could not be an optimal solution to the model ? a )...

Answered: 1 week ago

Question

★★★★★
Research on communication between men and women shows that differences are so vast that women seem to be from Venus and men from Mars. TRUE FALSE

Answered: 1 week ago

Question

★★★★★
The real risk-free rate, r*, is 2.5%. Inflation is expected to average 2.8% a year for the next 4 years, after which time inflation is expected to average 3.75% a year. Assume that there is no...

Answered: 1 week ago

Question

★★★★★
As of January 1, an investor had already provided 63,000 USD in a business. On February 1, he invested another 5.000 USD. On June 1, he withdrew 12.000 USD On November 1, he injected 3,000 USD. What...

Answered: 1 week ago

Question

★★★★★
A project that is initiated to respond to changes in tax laws or labor laws, it is initiated to? O Resolve a problem O Respond to a risk O Respond to an external directive Respond to an opportunity

Answered: 1 week ago

Question

★★★★★
Complete this question by entering your answers in the tabs below. What amount of bad debt expense is reported in the income statement. Note: Round your answer to the nearest whole dollar amount....

Answered: 1 week ago

Question

★★★★★
You believe you will spend $37,000 a year for 17 years once you retire in 34 years. If the interest rate is 7% per year, how much must you save each year until retirement to meet your retirement...

Answered: 1 week ago

Question

★★★★★
Kenworth Company uses a job-order costing system. Only three jobs-Job 105, Job 106, and Job 107-were worked on during November and December. Job 105 was completed on December 10; the other two jobs...

Answered: 1 week ago

Question

★★★★★
A T-bill that is 285 days from maturity is selling for $96,030. The T-bill has a face value of $100,000. a. Calculate the discount yield, bond equivalent yield, and EAR on the T-bill. b. Calculate...

Answered: 1 week ago

Question

★★★★★
Is it possible to add an alert to monitor Steep Price changes? 41:20 A. No B. Yes, through the Alerts app -> Price or Data C. Yes, through the Eikon Search Box by searching "steep price changes" D....

Answered: 1 week ago

Previous Question Next Question