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You invest $ 5 , 0 0 0 at time t = 0 , an additional $ 3 , 0 0 0 at t =

You invest $5,000 at time t =0, an additional $3,000 at t =1/4, take out $1,000 at t =1/2, and add $4,000 at t =3/4. You have $8,250 at t =1/4, $8,000 at t =1/2, $12,400 at t =3/4 and $12,975 at t =1.(1) Find the dollar-weighted rate of return on this investment. (2) Find the time-weighted rate of return on this investment.

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