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Suppose you opened a new account and invested $10,000 in your asset in the beginning of...

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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.  

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
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