5 An investor performs the following transactions on the shares of a rm. I At t = 0, she purchases a share for $1,000. I At t = 1, she receives a dividend of $25 and then purchases three additional shares for $1,055 each. I At t = 2, she receives a total dividend of $100 and then sells the four shares for $1,100 each. The money-weighted rate of return is closest to: ll. 4.5%. E: 2019 CFA Institute. All rights reserved