Sandra invests $10,832 in the Wise Investment Fund. Three months later her balance has grown to $11,902 and she deposits $2,000. Two months later her fund holdings are $14,308 and she withdraws $7,000. Two years after her initial investment, she learns that her holdings are worth $12,566. (a) Write an equation of value involving the exact dollar-weighted annual yield i over the two-year period. (b) Compute the approximate dollar-weighted annual yield over the investment period using (2.6.5) and again using (2.6.8).

ANSWER IS:

(b) By (2.6.5), i = 39.87454%, and by (2.6.8), i = 34.4696

I would greatly appreciate steps to b and c, thank you.