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A fund has net returns of 10% on even years and -10% on odd years. What is the annualized holding period return on a long

A fund has net returns of 10% on even years and -10% on odd years. What is the annualized holding period return on a long term investment in this fund, assuming all distributions are re-invested?

A. 2%

B. 0%

C. 5%

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