Now, it is end of 2018, Ron has been investing with Bloom mutual fund for 4 years now. This morning, Ron was reviewing his investment statements and show the following information (Please ignore any fund expenses info. in solving this question) Year Beginning balance Ending balance Dividends per share No. Shares Share price No. Shares Share price 2015 20,000 15 20,000 16 0.50 2016 20,625 16 20,625 13.75 0.60 2017 21,525 13.75 21,525 17 0.632 2018 22,325 17 22,325 18 0.80 (please notice that the dividends received at the end of each year have been used to purchase new shares at the beginning of the following year)

What is the dollar weighted average return of Ron during the period 2015-2018?

A. 7.58%

B. 8.76%

C. 10.38%

D. 11.53%

Assuming that the dollar weighted return is Rons nominal rate of return, what is Rons real rate of return if the annual rate of inflation during the investment period is 3%?

A. 5.59%

B. 11.76%

C. 10.76%

D. 1.92%