Suppose at the beginning of 2005 you decide to invest $20,000 in Driehaus' Emerging Markets Growth mutual fund. The following table shows the returns for the years 2005-2009.

2005...........................25.85%

2006...........................27.55%

2007...........................27.47%

2008..........................-47.02%

2009........................... 75.75%

a. Calculate and interpret the arithmetic mean return.

b. Calculate and interpret the geometric mean return.

c. How much money would you have accumulated by the end of 2009?