Your portfolio had the values in the following table for the four years listed. There were no withdrawals or contributions of new funds to the portfolio. Calculate your average return over the four-year period.

Year ______Beginning Value _____Ending Value

2013 .............. $50,000 .................. $55,000

2014 ............. $55,000 .................. $58,000

2015 ............. $58,000 .................. $65,000

2016 ............ $65,000 ................... $70,000