Question
On January 1, 2014, the balance in account is $25,200. On April 1, 2014, $500 are deposited in this account and on July 1, 2015,
On January 1, 2014, the balance in account is $25,200. On April 1, 2014, $500 are deposited in this account and on July 1, 2015, a withdraw of $1,000 is made. The balance in the account on October 1, 2015 is $25,900. What is the annual rate of interest in this account according with the dollar-weighted method (DWRR)?
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Fundamentals of Financial Management
Authors: Eugene F. Brigham, Joel F. Houston
11th edition
324422870, 324422873, 978-0324302691
