Question
Good years are followed by equally bad years for a mutual fund. It earns +8%, -8%, +10% in successive years. What is the investor's overall
Good years are followed by equally bad years for a mutual fund. It earns +8%, -8%, +10% in
successive years. What is the investor's overall return for the three years? Hint: this return is
NOT the arithmetic mean. Please show the process, not only the final answer.
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Finance And Financial Markets
Authors: Keith Pilbeam
2nd Edition
1403948356, 978-1403948359
