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On January 1st, an investment account is worth 300,000.M months later, the value...

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Accounting

On January 1st, an investment account is worth 300,000.M months later,
the value has increased to 315,000 and 15,000 is withdrawn. 2M months
prior to the end of the year, the account is again worth 315,000 and 15,000
is withdrawn. On December 31st, the account is worth 315,000. The annual
effective yield rate, using the dollar-weighted method, is 16%. Calculate M.
A.3.00
B.2.50
C.2.00
D.2.75
E.2.25
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