Carl Invested $100,000 in a Fund, Which Earned 8% Over

Multiple Choice

Carl invested $100,000 in a fund, which earned 8% over the next year. At the end of the year, he invested an additional $50,000 and the fund earned 18% over the next year. Carl withdrew no money from the fund. Which of the following statements about time-weighted return (TWR) and money-weighted return (MWR) is most accurate?

A) TWR is greater than MWR, and MWR is the more appropriate measure for Carl.
B) MWR is greater than TWR, and MWR is the more appropriate measure for Carl.
C) TWR is greater than MWR, and TWR is the more appropriate measure for Carl.
D) MWR is greater than TWR, and TWR is the more appropriate measure for Carl.