The following data relates to a large cap mutual fund. Over the last 2 years, monthly returns, including dividend reinvestment were as follows:

Jul-2021 Jun-2021 May-2021 Apr-2021 Mar-2021 Feb-2021 Jan-2021 Dec-2020 Nov-2020 Oct-2020 Sep-2020 Aug-2020

1.35% 1.25% -0.08%

Jul-2020 Jun-2020 May-2020

7.57% 2.38% 1.69% 4.26% 11.08% -13.74% -10.07% -0.99% 1.74% 3.72% 0.48% 1.95%

1.93% Apr-2020 2.71% Mar-2020 6.62% Feb-2020 3.17% Jan-2020

-2.04% Dec-2019 3.27% Nov-2019 11.84% Oct-2019 -4.61% Sep-2019 -2.28% Aug-2019

1. Calculate the arithmetic mean monthly return.

2. Calculate the geometric mean monthly return.

3. Calculate the annual holding period return.

4. If an investor invested $1 in this mutual fund at the beginning of the two-year period, how much

   would the $1 be worth at the end, assuming dividends are reinvested?

5. Estimate the monthly standard deviation of the mutual funds returns.

6. Estimate the annual standard deviation of the mutual funds returns.

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