1. A portfolio of no-dividend-paying common stocks earned a geometric mean return of 5 percent between 1 January 1996 and 31 December 2002. The arithmetic mean return for the same period was 6 percent. If the market value of the portfolio at the beginning of 1996 was $100,000, the market value of the portfolio at the end of 2002 was closest to
　　A . 135,000
　　B. 140,710
　　C. 142,000
　　D. 150,363
　　Answer: B
　　There are seven annual periods between I January 1996 and 31 December 2002, the market value of the portfolio

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