Franklin's investment fund had a balance of $280,000 on January 1, 1995 and a balance of $448,000 two years later. The amount of interest earned during the two years was $34,000, and the annual yield rate on the fund was 5.3%. Estimate the (dollar-weighted) average date of contributions to the account. (Round your answer to the nearest integer.) The average date of payment is 168 x days after January 1, 1995.

Franklin's investment fund had a balance of $280,000 on January 1, 1995 and a balance of $448,000 two years later. The amount of interest earned during the two years was $34,000, and the annual yield rate on the fund was 5.3%. Estimate the (dollar-weighted) average date of contributions to the account. (Round your answer to the nearest integer.) The average date of payment is 168 x days after January 1, 1995.

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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