At the Beginning of 2015, Clark's Trust Fund Had a Value

question 30

Essay

At the beginning of 2015, Clark's trust fund had a value of $400,000. Between the beginning of 2015 and the end of 2019, Clark's portfolio earned an arithmetic mean annual return of 7.6% and a geometric mean annual return of 6.3%. What approximate value did Clark's portfolio have at the end of 2019? Assume there were no inflow into or outflows from Clark's portfolio.

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