# Assignment — Lab C · Measuring returns (student instructions) · FinE Investment Planning G2.2 v0.7 (Early Release)

**File:** the HTML file your instructor attached (Assessment version for graded work). It works offline and saves nothing: copy your export before closing the tab.
**Parameter set:** __________ (your instructor fills in, e.g., PS-C1, ADOPTED v1.0). **Client:** Casey (fictional). Every number is a hypothetical teaching value.
**Submit:** one **Compact submission** export, copied at the very end (step 8).

> **Order matters.** Changing the calculation menu or the parameter set clears the sensitivity table. Do the steps in this order, make the sensitivity table your **last calculation**, and do not change the calculation or parameter set after step 6.

| Step | What to do | Activity |
|---|---|---|
| 1. Extension first (only if assigned) | Choose "IRR of a cash-flow pattern". Load each pattern CP-1…CP-7 from the pattern menu and press **Calculate** each time. Note what can and cannot be said about each IRR (you will write it in step 7) | C-6 |
| 2. Restore your set | In **Parameter set**, choose any other set, then choose your assigned set again. This restores the set's original values (your calculations stay listed) | — |
| 3. Calculate | Run: holding-period return; cumulative return; arithmetic and geometric means; APR → EAR; time-weighted return (per period); money-weighted return (per period) | C-1 to C-4 |
| 4. Verify by another method | In "Model output to compare with", choose **one** result, then type **your own value for that same measure** in "Your result" (for example, if you choose the TWR per period, enter your TWR per period). Write your spreadsheet formula, calculator keystrokes or hand steps in **Method** | V-1 |
| 5. Critique | Choose the critique item your instructor assigns (AIC-C1, C2 or C3) and explain its single error and the correct reasoning | AI-1 |
| 6. Change one assumption (last calculation) | Choose "Net present value of a cash-flow pattern" and press **Calculate** (the cash flows and discount rate are your set's values). In the sensitivity table choose "Discount rate per period" and enter the three rates your instructor names: __________ (percent per period). Do not change the calculation or set after this step | C-5 |
| 7. Interpret and explain | Write: what changed in the sensitivity table and where the NPV changes sign; why TWR and MWR differ for this history (compare per period with per period); the meaning of any IRR state without a number (from step 1, if assigned); a plain-language explanation for Casey (about 150–250 words); a short technical note | C-4, C-5, (C-6), K-1 |
| 8. Submit | Choose **Compact submission**, press **Copy export text** (in the Practice file: **Copy learning record**), and submit the copied export using the instructor-designated submission method (e.g., an LMS, course page, or secure instructor-approved channel). Check that the sensitivity rows appear in what you submit | — |

**Rules:** do not promise returns, rank investments or recommend products; state your assumptions; a result the tool cannot determine is a valid conclusion if you explain it.