Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Rates of Return An investor earned a geometric average return over 4 years of 13.20%. The first year's return was 13.70%, the second year's return
Rates of Return An investor earned a geometric average return over 4 years of 13.20%. The first year's return was 13.70%, the second year's return was -3.60%, the third year's return was 24.10%. What was the fourth year's return?
18.60%
13.20%
20.72%
21.53%
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started