B D E 4 5 Year 6 7 8 9 10 11 12 13 Value of Fund at start of year 1945 1,200 1949 1953 1957 1961 1965 1969 1973 1977 1981 1985 1989 1993 1997 2001 2005 2009 2013 2017 77,000,000 Money invested on Money withdrawn on 1 July of given year 31 Dec of given year 500 40,500 80,500 120,500 160,500 200,500 240,500 280,500 320,500 360,500 400,500 440,500 100,000 480,500 100,000 520,500 100,000 560,500 100,000 600,500 100,000 640,500 100,000 680,500 100,000 14 15 16 17 18 19 20 21 22 23 24 25 26 7 Question 3 (7 marks) Information regarding an investment fund over the years 1945 2017 is provided in the attached spreadsheet, Assignment 3 2020'. (a) Over the period 1 January 1945 to 1 January 2017, determine the Money Weighted Rate of Return (MWRR), expressed as an annual (effective) rate. Provide your answer below to 3 significant figures. DO NOT hand in any workings - just indicate your answer below. [3 marks] (b) Suppose that the balance as at 1 January 2017 is not 77m, but is unknown. What would the value of the fund have been as at 1 January 1993, if the following annualized (and effective) MWRRs applied over the entire time period of the fund? Again, DO NOT hand in any workings - just indicate your answers below. Give your answers to the nearest dollar. (i) 3.33% [2 marks] (ii) 6.66% [1 mark] (iii) 9.99% [1 mark]