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The investment balance of a firm is $5,000,000 at the beginning of a two-year period...

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Accounting

The investment balance of a firm is $5,000,000 at the beginning of a two-year period and $7,000,000 at the end. The firm makes a single contribution during the two-year interval of $1,200,000. What is the difference between the approximate annual dollar-weighted yield earned by the firm if the contribution is made after 6 months as opposed to it being made after one year?

Answer is: The annual dollar-weighted yield is 6.56422% or 6.90450%, depending upon whether the payment is after six months or one year; the difference is 0.34028%

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