Question 1:

You earn 15% in year 1, 25% in year 2 and 20% in year 3, what is your 3-year net return?

Question 2:

how to rank the following investments

Investment 1: return--10% variance--5%

Investment 2: return--20% variance--15%

Investment 3: return--12% variance20%

Risk-free rate: 5% (by assumption)

Reminder: convert variance to standard deviation first