A company's pension plan fund had a balance of $500,000 on January 1, 2019 and $650,000 on December 31, 2019.

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter19: Accounting For Post Retirement Benefits
Section: Chapter Questions
Problem 9RE: Given the following information for Tyler Companys pension plan at the beginning of the year,...
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A company's pension plan fund had a balance of $500,000 on January 1, 2019 and $650,000 on December 31, 2019.

There were deposits of $50,000 from members' contributions on each of March 1, 2019 and August 1, 2019.

There were withdrawals due to retirements of $20,000 at the end of June and $25,000 at the end of November.

Calculate the approximate dollar-weighted rate of return for the year.

You can count partial parts of the year in months. (Answer to 4 decimal places/a percent to 2 decimal places.)

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