An investment manager is pleased with the recent year's fund results. The following applied over the previous 12 months: - The fund value at 1 Jan 2020 was $1.5 million - The fund value at 28 Feb 2020 was $1.8 million - On 1 March 2020, $25,000 was withdrawn - The fund value at 31 July 2020 was $1.6 million - On 1 August 2020, withdrawals were made that totalled $500,000, and deposits totalling $3.75 million were made - The fund value at 31 December 2020 was $4.9 million Based on the information above, what are the Money-weighted and Time-weighted rates of return for this manager? (Each to the nearest 1%). An investment manager is pleased with the recent year's fund results. The following applied over the previous 12 months: - The fund value at 1 Jan 2020 was $1.5 million - The fund value at 28 Feb 2020 was $1.8 million - On 1 March 2020, $25,000 was withdrawn - The fund value at 31 July 2020 was $1.6 million - On 1 August 2020, withdrawals were made that totalled $500,000, and deposits totalling $3.75 million were made - The fund value at 31 December 2020 was $4.9 million Based on the information above, what are the Money-weighted and Time-weighted rates of return for this manager? (Each to the nearest 1%)