Your grandmother gives you 340 dollars for your birthday, whichyou invest in a mutual fund on January 1, 2002. On June 1, 2002,she gives you 830 dollars for your high school graduation, whichyou immediately deposit into your mutual fund. On January 1, 2003,you take out your calculator and find that your dollar weightedrate of return for the previous year was 5.5 percent. On April 1,2003 your fund balance is 1600 dollars and you then deposit yourgrandmother's Easter gift of X dollars. On January 1, 2004, yourfund balance is 1900 dollars and you calculate that your timeweighted rate of return for the previous year was 11.3 percent.What is X? (As usual, assume simple interest for the dollarweighted rate of return, and months of equal length.)

Answer = dollars.