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2. Assume an investment has the following returns: Year 1: 10% Year 4: -2% Year 2: 7% Year 5: 3% Year 3: -5% What is

2. Assume an investment has the following returns: Year 1: 10% Year 4: -2% Year 2: 7% Year 5: 3% Year 3: -5%

What is the cumulative return over the 5-year period?

What is the average annualized return over the 5-year period?

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