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SHOW ALL WORK AND EXCEL CALCULATIONS USED. Fund begins with $10millon and has following year results: Assume that all the funds will be withdrawn at

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SHOW ALL WORK AND EXCEL CALCULATIONS USED.

Fund begins with $10millon and has following year results: Assume that all the funds will be withdrawn at the end of the 3rd year year 1st year 2nd year 3rd year Net Inflows (Occurring at the end of each year) $3M $5M $0 (no inflows) Withdraw all funds HPR (%) 29 8% -49 > Calculate the following: 1) arithmetic average return, 2) geometric average return, and 3) dollar-weighted average returns

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