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Enrolled Actuary Exam Prep

Category - Enrolled Actuary

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The market value of a fund and its cash flows at various dates in a calendar year are shown below: Date Value of fund before withdrawals Withdrawals1/1 $300,000 $0 m months after 1/1 315,000 15,000 2m months before 12/31 315,000 15,000 12/31 315,000 0The dollar-weighted rate of return for the year is 16.0%. In what range is m?
  1. Less than 2.1
  2. 2.1 but less than 2.5
  3. 2.5 but less than 2.9
  4. 2.9 but less than 3.3
  5. 3.3 or more
Explanation
Answer: D - 2.9 but less than 3.3
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