Suppose you opened a new account and invested $10,000 in your
asset in the beginning of...
80.2K
Verified Solution
Link Copied!
Question
Finance
Suppose you opened a new account and invested $10,000 in yourasset in the beginning of 2014, that on June 30, 2016 you investedan additional $5,000, and that on January 31, 2017 you withdrew$2,000. Â
If there were no other cash flows coming into or out of theaccount, what was the dollar balance at the end of 2018 (yes, doinclude the effect of the return earned during December 2018)?
Rate of return -0.88
Answer & Explanation
Solved by verified expert
3.8 Ratings (434 Votes)
Step 1 Calculate Dollar Balance at Beginning of 2018 The dollar balance at the beginning of 2018 is arrived as below Total Balance at the Beginning of 2018 Amount Invested at the Beginning of 2014 Amount
See Answer
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
