Dollar-Weighted Average Return(LO3,CFA6)

Soppose that an investor opens an account by investing $1,000. At the beginning of each of the next four years, he deposits an additional $1,000 each year, and he then liquidates the account at the end of the total five-year period.

Suppose that the yearly returns in this account, beginning in year1,are as follows:-9percent, 17perecent,9percent,14percent, and -4percent.

Calculate the arithmetic and geometric average returns for this investment, and determine what the investor's actual dollar-weighted average return was for this five-year period.

why is the dollar-weighted average return higher orlower than the geometric average return?

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