Based on the information given the average annual return of the fund is 20%.
Using this formula
Average annual return=(Year one percentage gain+ Year two percentage gain +Year three percentage gain)/ 3 years
Where:
Year one percentage gain=20%
Year two percentage gain=10%
Year three percentage gain=30%
Let plug in the formula
Average annual return=20%+10%+30%/3
Average annual return=60%/3
Average annual return=20%
Inconclusion the average annual return of the fund is 20%.
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