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?
Accepted Solution
A:
Answer:$1320Step-by-step explanation:Here we are given that from January to December , he made some investments and a withdrawal. Investments : $12000 + $2400 + $2880 = $17280Withdrawal = $1440Total Balance in the investment fund at the year end = $17280-$1440 = $15840Total Number of Month in a year = 12Average Monthly income = [tex]\frac{15840}{12}[/tex]=1320Hence his average monthly investment is $1320