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Amanda invested $24,000 on January 1, 1994 in the Admiral Fund. On May 1, 1995, her...

Amanda invested $24,000 on January 1, 1994 in the Admiral Fund. On May 1, 1995, her balance was $28,202 and she withdrew $10,000. On December 1, 1995, her balance was $15,892, and she deposited $8,000. On January 1, 1997 the fund balance was $30,309. Find the annual time weighted yield rate.

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Answer #1

Annual Time Weighted yield rate= 10.05% as follows:

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