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On January 1, a fund is worth 100,000. On May 1, the value has increased to 120,000 and then 30,000 of new principal is deposited.

On January 1, a fund is worth 100,000. On May 1, the value has increased to 120,000 and then 30,000 of new principal is deposited. On November 1, the value has declined to 130,000 and then 50,000 is withdrawn. On January 1 of the following year, the fund is again worth 100,000.

Calculate the time-weighted rate of return.

A

0.00%

B

17.91%

C

25.00%

D

29.27%

E

30.00%

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