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A stock had returns of 13%, 7.2%, -7.3%, and 3.4%, for 4 of the last 5 years. The arithmetic average return on the stock over
A stock had returns of 13%, 7.2%, -7.3%, and 3.4%, for 4 of the last 5 years. The arithmetic average return on the stock over this period was 5.3%. What was the stock's return for the missing year?
Please do not round intermediate calculations. Round the final answer to 2 decimal places.
Please show all your steps that you take to resolve this. Please be very clear, so that I understand what steps you take. If typing, please bold your responses per step. Make sure to follow all rounding instructions.
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