John Began His Investing Program with a $5,500 Initial Investment

question 31

Multiple Choice

John began his investing program with a $5,500 initial investment.The table below recaps his returns each year as well as the amounts he added to his investment account.What is his dollar-weighted average return?

• A) 1.5 percent
• B) 1.8 percent
• C) 2.0 percent
• D) 2.2 percent
• E) 2.6 percent

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Definitions:

UCC

The Uniform Commercial Code is an extensive collection of regulations that oversee business dealings within the United States.

Oral

Oral pertains to spoken words, in contrast to written or non-verbal communication, often used in contracts or agreements that are not recorded in written form.

Cashier's Checks

A check issued by a bank, drawn on its own funds rather than that of a personal account, and signed by a cashier or teller.

Drawer

In contractual terms, the party that writes or drafts a cheque or bill of exchange.