Question

On March 1st, Same invested $90,000 in a business. On June 1st, he invested another $10,000. On July 1st, he withdrew $17,000 to spend on the repair of his house. On September 1st, he injected another $2,000 into the business. What was his average investment per month in the business during the year? Assume all months have the same length or weighting.

Answer 1

The average investment per month in the business during the year was $8,500.

Step-by-step explanation:

The average investment per month in the business during the year can be calculated by adding up the total investment and dividing it by the number of months:

Total Investment = $90,000 + $10,000 + $2,000 = $102,000

Total Months = 12

Average Investment per Month = Total Investment / Total Months = $102,000 / 12 = $8,500