Question

An investment fund had a balance on January 1 of $273,000 and a balance on December 31 of $372,000. The amount of interest earned during the year was $18,000 and the computed yield rate on the fund was 6%. What was the average date for contributions to and withdrawals from the fund?

Answer 1

The answer has been presented in the supporting sheet. For detailed answer refer to the supporting sheet.

Step-by-step explanation: