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Your grandmother gives you $2200 for your birthday, which you invest in a mutual fund on January 1. On June 1, your fund balance is

Your grandmother gives you $2200 for your birthday, which you invest in a mutual fund on January 1. On June 1, your fund balance is $8000, and you then deposit $1500 (which you received for your high school graduation). On the following January 1, you calculate that your dollar-weighted rate of return (using simple interest) for the year was 41.3%. What was your time-weighted rate of return for the year? Answer = %

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