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You have the following rates of return for a risky portfolio for several recent years. Assume that the stock pays no dividends. Year 2014 2015

You have the following rates of return for a risky portfolio for several recent years. Assume that the stock pays no dividends. Year 2014 2015 2016 2017 Beginning of Year Price $100 $105 $101 $104 # of Shares Bought or Sold 250 bought 200 bought 225 sold 225 sold What is the geometric average return for the period? Multiple Choice 2.64% .99% 1.32% 1.98%

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