Anthony Began the Year with $96,400 Already Invested in His

question 133

Short Answer

Anthony began the year with $96,400 already invested in his Snow 'n Ice retail store. He withdrew $14,200 on March 1 and another $21,800 on April 1. On August 1, he invested $23,700, and on November 1 he contributed another $19,300. What was his average cumulative investment during the year? (Assume that each month has the same length.)

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Definitions:

Intended Price

The price at which a seller aims to sell a product or service, often reflecting costs, market conditions, and profit margins.

Bilateral Mistake

A situation in a contract where both parties are mistaken about a fundamental fact that is central to the contract.

Unforeseen Storm

A sudden and unexpected weather event with potentially destructive effects.

Contract Price

The agreed-upon amount that will be paid in exchange for the performance of contractual obligations.