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QUESTION 11 A mutual fund manager earns the following annual returns over a 4-year period: 12%, -8%, 19% and 16% The compound average return is

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QUESTION 11 A mutual fund manager earns the following annual returns over a 4-year period: 12%, -8%, 19% and 16% The compound average return is closest to: 9.2% 8.7 % 11.3% 12.1 %

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