A pension fund that begins with $250,000 earns 15% the first year and 10% the second year. At the beginning of the second year, the sponsor contributes another $300,000. The dollar-weighted and time-weighted rates of return, respectively, were
12.1% and 12.5%.
12.5% and 11.7%.
12.5% and 12.1%.
11.7% and 12.5%.
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