$$ In $2024$ Ron McInish, the oldest son of Tom, decided to invest in the same fund his dad chose but he only had $$300,000.$ He started his investment at the beginning of $2024,$ and he kept investing in it till Jan $2027.$

$$ Now it is end of year $2027,$ This morning, Ron was reviewing his investment statements, he showed the following information to his dad and asked him to help with some calculations.

$($Please ignore any fund expenses info. in solving this question$)$

Year Beginning balance Ending balance Dividends

No$.$ Shares Share price No$.$ Shares Share price per share

$202420,0001520,000160\mathrm{.}50$

$202520,6251620,62513\mathrm{.}750\mathrm{.}60$

$202621,52513\mathrm{.}7521,525170\mathrm{.}632$

$202722,3251722,325180\mathrm{.}80$

$($please notice that the dividends received at the end of each year have been used to purchase new shares at the beginning of the following year$)$

$19)$ what is the HPR for Ron in $2024?$

a$)6\mathrm{.}67\%$

b$)10\%$

c$)6\mathrm{.}25\%$

d$)8\mathrm{.}9\%$

$20)$ What is the HPR of Ron during his entire investment horizon $2024-$end of $2027($Please notice that Ron has been reinvesting his entire proceeds from dividends during years $2015,2016,$ and $2017$ in the fund once they are received$)?$

a$)28\%$

b$)41\mathrm{.}4\%$

c$)39\mathrm{.}9\%$

d$)59\mathrm{.}3\%$

$21)$ What is the arithmetic average annual return of Ron during the whole investment period?

a$)8\mathrm{.}54\%$

b$)5\mathrm{.}53\%$

c$)6\mathrm{.}52\%$

d$)9\mathrm{.}63\%$

$22)$ What is the Geometric average annual return of Ron during the whole investment period?

a$)2\mathrm{.}8\%$

b$)8\mathrm{.}76\%$

c$)-8\mathrm{.}77\%$

d$)8\mathrm{.}52\%$