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Suppose a portfolio has a beginning balance of $1 million and has a return of 10% the first period and 20% the second period. Then
Suppose a portfolio has a beginning balance of $1 million and has a return of 10% the first period and 20% the second period. Then $500,000 is added to the account. The subsequent return is -9% in the third period and 25% return in the fourth period. Using the daily valuation method, what is the holding period return over the four periods?
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