Hello guys, I’ve just started preparing for CFA I and currently practicing MWRR , so could someone please explain me how is it possible that in the example I’ve posted withdrawal is calculated as inflow (+16000) ? Also, do we always put the balance at the end of the last year for the final CF , as done in this example? Maybe I am asking stupid questions, I do not really have enough of a prior knowledge when it comes to this field of study… 
When you do this questions you need to consistent in the signs for inflows and outflows.
You can think investors money
Money from investor to fund as -ive , money from fund to investor as +ve OR
Money from investor to fund as +ive , money from fund to investor as -ve
It does not which you use as long as you are consistent.
Cfo = -18,000 - we invest 18,000 in the fund at the start
C01 = -24,5000 - another 24,500 invested
C02 = -16,000 (+16,000 flows from fund to investor at end yr 1 but -32,000 from investor to fund at start of year end End yr 1 is the same as start year 2. Net effect -16,000 from investor to fund.
C03 = 74,869 - yes treat the last value as if the investor cashed out and got all the money back
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Got it, thank you very much! 