Question

john invested $12000 in a business on january 1 amd an adutional $2400 on april 1 . he withdraws $1440 in june 1 and invested $2880 on october 1 . what was john's average monthly investment balance of the year?​

Answer 1

$1320

Explanation:

Here we are given that from January to December , he made some investments and a withdrawal.

Investments : $12000 + $2400 + $2880

= $17280

Withdrawal = $1440

Total Balance in the investment fund at the year end = $17280-$1440

= $15840

Total Number of Month in a year = 12

Average Monthly income =

`(15840)/(12)`

=1320

Hence his average monthly investment is $1320