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If the unleveraged index of a 2x daily leveraged ETF gained 8% on Day 1 and then lost 10% on day two, the overall loss

If the unleveraged index of a 2x daily leveraged ETF gained 8% on Day 1 and then lost 10% on day two, the overall loss for the leveraged fund over the two trading days is

a. 2.8%

b. 4%

c. 7.2%

d. 14.6%

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