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Dennis invests 4000 dollars in a mutual fund on January 1. On May 1, his fund balance is 8000 dollars, and he withdraws 1200 dollars.

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Dennis invests 4000 dollars in a mutual fund on January 1. On May 1, his fund balance is 8000 dollars, and he withdraws 1200 dollars. On the following January 1, his fund balance is 3700 dollars. What is Dennis' dollar-weighted rate of return? (Assume simple interest and months of equal length.) Answer =

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