Caswell Enterprises had the following end-of-year stock prices over the last five years and no paid cash dividends.

Time Caswell

1 $10

2 $15

3 $12

4 $9

5 $10

a. Calculate the rate returns for each year from the above information. ( 4marks)

b. What is the arithmetic average rate of return earned by investing in Caswell's stock over the period (5 marks)

c. What is the geometric average rate of return earned by investing in Caswell's stock over the period? ( 5 marks)