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For small-cap stocks, if arithmetic average was 17.7% and the standard deviation were reported to be 33.7%, what would be the approximate geometric average return

For small-cap stocks, if arithmetic average was 17.7% and the standard deviation were reported to be 33.7%, what would be the approximate geometric average return for these small-cap stocks?

Approximately 9%

Approximately 12%

Approximately 15%

Approximately 17%

Approximately 20%

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