At the start of the year, Avishek has an investment fund worth $100000.00. 4 months later the fund is worth $99500.00 and Avishek deposits another $10000.00. 4 months after that, the fund is worth $110595.00 and Avishek 2 withdraws the $10000.00 he deposited the time before. At the end of the year the fund is worth $102103.92.

a) What is the Dollar Weighted Return for Avisheks investment?

b) What is the Time Weighted Return for the investment fund?

c) What would the fund balance at the end of year have to be to make the Time Weighted Return for the year equal the Dollar Weighted Return for the year?

d) In this case (TWR = DWR) what was the return on the investment fund in the last time period?