Slight challenge question with a twist on the return measurementproblems. If you understand how to set up an equation to solve forthe annualized dollar-weighted return you should be able to solvethis question. Two years ago you opened a new investment accountand invested $9,000 at that time. Six months later you withdrew$1,000, and then one year after that withdrawal you invested anadditional $2000. There were not other deposits and withdrawals,and today the balance $X. If the annualized dollar-weighted returnwas 8%, what is X? Round and express your answer to thenearest dollar.
