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```They told me that the formula to calculate my
return is

2X(investment return)
------------------------------------------- X 100%
(opening balance + ending balance
- investment return)

I don't understand why???

Running the numbers through their formula-

investment return = \$ 48
opening balance   = \$  0
closing balance   = \$760

2x(48)          96
------       = ---- = 12.6%
( 0 + 808 - 48)   760

Why is this correct?

You were adding money to the plan on a regular basis.
33% of your money was invested for less than a month,
so it makes a smaller contribution to your return.  The
factor of 2 they use basically compensates for this
fact.  I'm assuming the *actual* formula they use is
slightly different to account for different
contributions throughout the year, and to eliminate the
infinity when ending = opening - return (i.e. 0
investment gives you infinite return-- what a deal).
The formula they gave you is designed to be "close
enough".```