Mathematics, 01.11.2019 03:31 ashhrooks
On mike's 1st birthday, a savings account is opened for him containing $10,000. on his 5th birthday the account has grown to $13,500 and $1,000 is added. on his 13th birthday, the account has grown to $17,000 and $2,000 is added. on his 16th birthday, he withdraws $5,000 to buy a car, leaving balance of $15,000. on his 18th birthday, his account contains $16,500, which he will use for college. no other deposits or withdrawals are made. calculate the time-weight ed rate of return over the 17-year period. (a) less than 0.05 (b) at least 0.05, but less than 0.30 (c) at least 0.30, but less than 0.55 (d) at least 0.55, but less than 0.80 (e) at least 0.80
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On mike's 1st birthday, a savings account is opened for him containing $10,000. on his 5th birthday...
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