Is there an easier way to solve for this or is the explanation/answer given the only way to solve for it. Seems to take a long time to solve the problem. Please help if you know of a quicker way. The question is below for a reference but I was unable to copy and paste the entire thing.
118. An investor’s transactions in a mutual fund and the fund’s returns over a four-year period are provided in the following table:
Based on this data, the money-weighted return (or internal rate of return) for the investor is closest to:
A. 7.50%. B. 2.15%. C. 3.96%.
118. An investor’s transactions in a mutual fund and the fund’s returns over a four-year period are provided in the following table:
Based on this data, the money-weighted return (or internal rate of return) for the investor is closest to:
A. 7.50%. B. 2.15%. C. 3.96%.