Question
You invest $10,000 in a fund on January 1, 2008. On May 1, 2008, you withdraw $3,000 from the fund. On November 1, 2008, you
You invest $10,000 in a fund on January 1, 2008. On May 1, 2008, you withdraw $3,000 from the fund. On November 1, 2008, you deposit $4,000 into the fund. On December 31, 2008, your fund is worth $13,500. What was the annual dollar-weighted rate of return on your investment?
The answer is 28.85%. I need the solution please!
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Investment Analysis and Portfolio Management
Authors: Frank K. Reilly, Keith C. Brown
10th Edition
538482109, 1133711774, 538482389, 9780538482103, 9781133711773, 978-0538482387
