Final answer:
The annual continuously compounded rate of return is 51.07%.
Step-by-step explanation:
The annual continuously compounded rate of return can be found using the formula:
R = ln(1 + Rc),
where R is the continuously compounded rate of return and Rc is the cumulative rate of return.
In this case, the cumulative rate of return is 63.45%, or 0.6345.
Therefore, the annual continuously compounded rate of return is:
R = ln(1 + 0.6345) = 0.5107, or 51.07%.