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Please show your work as much as possible (NEED STEPS!) USE Approximate dollar-weighted yield rate to solve it DO NOT COPY FROM THE OTHERS 3.

Please show your work as much as possible (NEED STEPS!)

USE Approximate dollar-weighted yield rate to solve it

DO NOT COPY FROM THE OTHERS

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3. On January 1, 1997, an investment account is worth 100,000. On April 1, 1997, the value has increased to 103,000 and 8,000 is withdrawn. On January 1, 1999, the account is worth 103,992. Given that the dollar-weighted yield rate for the year 1997 equals the time-weighted yield rate for the year 1998, calculate this yield rate

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