You are a fund manager preparing your marketing documents. You are looking to present the historical returns of the "MGMP Fund". A hypothetical $100 million investment in the "MGMP Fund" made on December 31, 2018 would have had the following account values, and payouts over the next 3 years. (You can assume dividends are paid on December 31st).

December 31st	Value (millions)	Dividend (millions)
2019	$106.00	$2.00
2020	$130.00	$3.25
2021	$115.00	$2.75

1.Calculate the holding period return?

2.Calculate the return for 2019.

3.Calculate the return for 2020.

4.Calculate the return for 2021.

5.Calculate the Arithmetic mean return.

6.Calculate the geometric mean return.

7.Which of the two measures are most useful when evaluating what an investor could have earned if they invested in the "MGMP Fund"?

Geometric

Arithmetic

Both are equally useful

Neither are useful