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Prove that if dividends are not paid for a stock, then its logarithmic returns satisfy k(n, m) = k(n + 1) + k(n + 2)
Prove that if dividends are not paid for a stock, then its logarithmic returns satisfy k(n, m) = k(n + 1) + k(n + 2) + + k(m).
Please show detailed work, thank you.
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