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4. An investor is evaluating the historical performance of an investment fund. The following annual returns are provided to the investor: Year UWN-O 2 3

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4. An investor is evaluating the historical performance of an investment fund. The following annual returns are provided to the investor: Year UWN-O 2 3 4 5 Fund Value 100 110 120 110 105 100 a. Calculate the investment returns for each year. b. Compute the arithmetic mean return. c. Calculate the geometric mean return. d. Why is there a difference between (b) and (c)

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