Calculate the balance of the fund on july 1

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Reference no: EM131175546

2000 is deposited into a newly opened fund on January 1, 1999. Another deposit is made into the fund on July, 1 1999.

On January 1, 2000, the balance in the fund is 6000. The time-weighted rate of return in 1999 is 8.0% and the dollar-weighted rate of return is 4.8%.

Calculate the balance of the fund on July 1, 1999, immediately before the deposit is made. Give your answer rounded to the nearest whole number.

Reference no: EM131175546

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