Question 1,2,3 are based on the following information

Consider a fund that starts with $10 M under management. The funds yearly returns and net inflows from fund investors are reported as below.

	1st Year	2nd Year	3rd Year
Holding-period return (%)	20%	8%	-5%
Net inflow ($ million)	3	5	0

The arithmetic average return is ___________

Group of answer choices

7.67%

8%

9.2%

7.18%

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The geometric average return is ___________

Group of answer choices

7.67%

8%

9.2%

7.18%

The dollar-weighted average return is _________

Group of answer choices

5.014%

1.17%

3.65%

8%