ranklin's investment fund had a balance of $270,000 on January 1, 1995 and a balance of $449,000 two years later. The amount of interest earned during the two years was $34,000, and the annu ield rate on the fund was 5.4%. Estimate the (dollar-weighted) average date of contributions to the account. (Round your answer to the nearest integer.) The average date of payment is days after January 1, 1995.
ranklin's investment fund had a balance of $270,000 on January 1, 1995 and a balance of $449,000 two years later. The amount of interest earned during the two years was $34,000, and the annu ield rate on the fund was 5.4%. Estimate the (dollar-weighted) average date of contributions to the account. (Round your answer to the nearest integer.) The average date of payment is days after January 1, 1995.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:Franklin's investment fund had a balance of $270,000 on January 1, 1995 and a balance of $449,000 two years later. The amount of interest earned during the two years was $34,000, and the annual
yield rate on the fund was 5.4%. Estimate the (dollar-weighted) average date of contributions to the account. (Round your answer to the nearest integer.)
The average date of payment is
days after January 1, 1995.
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