Suppose that you bought a stock 6 years ago at $12. The stocks price at the end of each year is shown here.

Year Price

1 10

2 14

3 15

4 22

5 30

6 25

1. Compute the rate of return, but use instantaneous rates of return rather than per-period rates of return.

2. Compute the mean and median of the rates of return.

3. Compute the geometric mean of the instantaneous rates of return.