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Suppose that an ancestor of yours invested $1,000 in a diversified portfolio of stocks. For the sake of argument, we will assume that this portfolio

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Suppose that an ancestor of yours invested $1,000 in a diversified portfolio of stocks. For the sake of argument, we will assume that this portfolio is managed in a way that tends to track the stock market as a whole. (Hence, for example, as stocks in the portfolio are delisted for one reason or another, the manager replaces them with newer stocks.) Dividends on stocks in the portfolio are reinvested. Your ancestor sets up a family trust fund to hold this portfolio. 107 years later, the portfolio is worth $7 million. What is the compound annual rate of return earned by the portfolio over this holding period? Give your answer in percent to one decimal place. Do not type the % symbol. For example, if your answer is 7.875%, then round to one decimal place and type 7.9 as your

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