Assume in Question 17 that, in addition to the information given, there is also a 5000 deposit to the fund on July 1, 1997.

(a) Find the dollar-weighted annual rate of investment return for the fund, assuming simple interest.

(b) Find the rate of return for Emily's fund using simple interest and assuming a uniform distribution throughout the year of all deposits and withdrawals.

(c) Is it possible to calculate the time-weighted rate of return?

If not, why not?

AppendixLO1