1. Jeff invests $7600 in a mutual fund on June 1. On October 1, his fund balance is $3100, and he deposits $1500. On the following June 1, his fund balance is $2500. What is Jeff's time-weighted rate of return?
2. Wendel invested $6000 in a mutual fund on January 1, 2007. On June 1, 2009, his fund balance was $3000. Wendel noticed the decline, and withdrew $1100. On September 1, 2012, his fund balance was $7300, and he then invested an additional $1000. Finally, on January 1, 2014, his fund balance is $6200. What is Wendel's annual time-weighted rate of return?