Check my work You are the manager of the Mighty Fine mutual fund. The following table reflects the activity of the fund during the last quarter. The fund started the quarter on January 1 with a balance of $40 million. Mighty Fine Mutual Fund Monthly Data (measured at end of month) January February 6.1 -3.8 6.50 -3.50 Net inflows ($ million) HPR (%) Required: a. Calculate the quarterly arithmetic average return on the fund. (Do not round intermediate calculations. Round your answer to 2 decimal places.) Arithmetic average 1.93 % Geometric average March 0 2.80 b. Calculate the quarterly geometric (time-weighted) average return on the fund. (Do not round intermediate calculations. Round your answer to 2 decimal places.) % < Prev 2 of 10 Next >