3. A mutual fund had had the following returns:

Year 1: 10%

Year 2: -10%

Year 3: 5%

Year 4: -4%

Year 5: 6%

What is the cumulative return over the 5 year period?

A. 1.16%

B. 5.78%

C. 1.4%

D. 7.0%

4. A mutual fund had the following returns:

Year 1: 20%

Year 2: -20%

Year 3: 10%

Year 4: -8%

Year 5: 12%

What is the annualized return over the 5 year period?

A. 1.70%

B. 8.81%

C. 1.86%

D. 2.8%