Question
Joseph invested $1,000 in large U.S. stocks at the beginning of 2012. This investment earned 16.35 percent in 2012, 33.60 percent in 2013, 13.90 percent
Joseph invested $1,000 in large U.S. stocks at the beginning of 2012. This investment earned 16.35 percent in 2012, 33.60 percent in 2013, 13.90 percent in 2014, and 2.30 percent in 2015. What was the average annual return that Joseph earned over the 2012-2015 period.
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Financial Management Theory and Practice
Authors: Eugene F. Brigham, Michael C. Ehrhardt
16th edition
1337902608, 978-1337902601
