[讨论] 高手给讲讲题吧

PURCHASE A SHARE OF STOCK OF $50 AT T0,

AND PURCHASE ANOTHER SHARE OF STOCK AT $65 AT T1,

AT THE END OF YEAR 1 AND 2, THE STOCK PAID $2 DIVIDEND.

ALSO AT THE END OF YEAR 2, INVESTOR SOLD BOTH SHARES FOR $70 EACH.

SOLVE FOR TIME-WEIGHTED RATE OF RETURN

ANSWER: hpy1 = (65+2-50)/50-1=34%

HYP2=(144-130)/130-1=10.77%

不明白130 是咋来的？