Which of the following questions are addressed by financial managers? I. How should a product be marketed? II. Should customers
1 answer:
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Answer:
The fund balance at the end of the year is $22,075.
Explanation:
Let X denote the end-of-year balance. During the year, the balance grows as follows
1,205 → 1,230+ ($800) = 2,030
The time-weighted yield rate for the one yearperiod is 11.1%
11.1 = *
1230x = 27152265
x =
x = $22,075