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Tommy Hughes invested $10 000 in a business on January 1. He withdrew $1000 on March 1, reinvested $5000 on July 1, and withdrew $4000 on October 1. What is Tommy's average monthly investment balance for the year?
Premium
The amount by which the price of something, especially a financial security, exceeds its principal or face value.
Interest Rates
The cost of borrowing money or the return on investment for savings, usually expressed as a percentage of the principal amount on an annual basis.
Bond Prices
The market price at which a bond is traded, influenced by interest rates, credit ratings, and the bond's term to maturity.
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