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An investment fund with initial value F 0 = 1 reported effective annual yields over the past 5 years as 9 % , 1 4

An investment fund with initial value F0=1 reported effective annual yields over the past
5 years as 9%,14%,10% for years 12,3,45 respectively. During this 5-year period, the
fund received new contributions of (0.4,0.2,0.5) at times (1,2,4)(in years from the start
of the 5-year period) and paid out withdrawals of (0.3,0.2) at times (2,4) respectively.
(a) Calculate the fund values just before contributions and withdrawals.
(b) Find the following rates of return achieved by the fund over the 5-year period:
the linked internal rate of return (LIRR),
the money weighted rate of return (MWRR), and
the time weighted rate of return (TWRR).

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