Franklin's investment fund had a balance of $270,000 on January 1, 1995 and a balance of $449,000 two years later. The amount of interest earned during the two years was $34,000, and the annualyield rate on the fund was 5.4%. Estimate the (dollar-weighted) average date of contributions to the account. (Round your answer to the nearest integer.)The average date of payment isdays after January 1, 1995.

Investment fund refers to the fund in which the investors invest the capital for the purchase of…

ranklin's investment fund had a balance of $270,000 on January 1, 1995 and a balance of $449,000 two years later. The amount of interest earned during the two years was $34,000, and the annu ield rate on the fund was 5.4%. Estimate the (dollar-weighted) average date of contributions to the account. (Round your answer to the nearest integer.) The average date of payment is days after January 1, 1995.

ranklin's investment fund had a balance of $270,000 on January 1, 1995 and a balance of $449,000 two years later. The amount of interest earned during the two years was $34,000, and the annu ield rate on the fund was 5.4%. Estimate the (dollar-weighted) average date of contributions to the account. (Round your answer to the nearest integer.) The average date of payment is days after January 1, 1995.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

ChapterM: Time Value Of Money Module

Section: Chapter Questions

Problem 10RE: If 90,000 is invested in a fund on December 31, 2019, and 5 equal annual withdrawals of 23,138.32...

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