Find five years of monthly returns for two mutual funds, Vanguard's U.S. Growth Fund and U.S. Value Fund, as well as corresponding returns for the S8 and the Treasury-bill rate. (Use Spreadsheet.xls) a. Calculate each fund's excess rate of return over T-bills in each month. (Negative values should be indicated by a minus sign. Leave no cells bla be certain to enter "o" wherever required. Do not round intermediate calculations. Round your answers to 2 decimal places.) Excess Returns Value Fund Total Monthly Returns Vanguard S&P Vanguard Value Fund T-bills 0.07 0.06 0.09 0.08 0.06 0.08 S&P on Jan-04 Feb-04 Mar-04 Apr-04 May-04 Jun-04 Jul-04 Aug-04 Sep-04 Oct-04 Nov-04 Dec-04 Jan-05 Feb-05 Mar-05 Apr-05 May-05 Jun-05 Jul-05 Aug-05 Sep-05 Oct-05 1.52 -0.53 -2.69 0.22 2.53 -0.07 -0.99 -2.46 2.52 1.39 1.35 1.28 0.99 1.52 0.21 5.22 3.24 -2.36 3.62 -2.33 -2.68 4.08 2.25 3.55 -0.78 2.49 1.46 4.66 3.60 -3.48 0.79 -2.86 -2.41 1.85 -3.22 0.25 1.00 1.29 4.46 3.01 -2.24 2.09 0.21 0.21 0.24 0.23 0.24 3.22 0.51 5.28 -0.85 3.82 -0.93 0.80 -2.36 4.39 0.38 0.29 0.27 0.30 2.87 5.04 Find five years of monthly returns for two mutual funds, Vanguard's U.S. Growth Fund and U.S. Value Fund, as well as corresponding returns for the S8 and the Treasury-bill rate. (Use Spreadsheet.xls) a. Calculate each fund's excess rate of return over T-bills in each month. (Negative values should be indicated by a minus sign. Leave no cells bla be certain to enter "o" wherever required. Do not round intermediate calculations. Round your answers to 2 decimal places.) Excess Returns Value Fund Total Monthly Returns Vanguard S&P Vanguard Value Fund T-bills 0.07 0.06 0.09 0.08 0.06 0.08 S&P on Jan-04 Feb-04 Mar-04 Apr-04 May-04 Jun-04 Jul-04 Aug-04 Sep-04 Oct-04 Nov-04 Dec-04 Jan-05 Feb-05 Mar-05 Apr-05 May-05 Jun-05 Jul-05 Aug-05 Sep-05 Oct-05 1.52 -0.53 -2.69 0.22 2.53 -0.07 -0.99 -2.46 2.52 1.39 1.35 1.28 0.99 1.52 0.21 5.22 3.24 -2.36 3.62 -2.33 -2.68 4.08 2.25 3.55 -0.78 2.49 1.46 4.66 3.60 -3.48 0.79 -2.86 -2.41 1.85 -3.22 0.25 1.00 1.29 4.46 3.01 -2.24 2.09 0.21 0.21 0.24 0.23 0.24 3.22 0.51 5.28 -0.85 3.82 -0.93 0.80 -2.36 4.39 0.38 0.29 0.27 0.30 2.87 5.04