Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Five years ago, you purchased a portfolio of stocks at the cost of $129,000. Over the past five years, your annual returns were: (9.8%), (6.7%),

Five years ago, you purchased a portfolio of stocks at the cost of $129,000. Over the past five years, your annual returns were: (9.8%), (6.7%), 4.1%, 9.9%, and 15.6%. What was your geometric average return per year (nearest 1/10 of one percent without % symbol, e.g. 12.51)?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

EAuditing Fundamentals Virtual Communication And Remote Auditing

Authors: J.P. Russell, Shauna Wilson

1st Edition

0873898486, 978-0873898485

More Books

Students also viewed these Accounting questions

Question

7-16 Compare Web 2.0 and Web 3.0.

Answered: 1 week ago