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Suppose that an investment has yielded the following historical annual returns for the past 5 years: Year 1 = 23% Year 2 = 19% Year

Suppose that an investment has yielded the following historical annual returns for the past 5 years:

Year 1 = 23%

Year 2 = 19%

Year 3 = -4%

Year 4 = 17%

Year 5 = 11%

What is the geometric average rate of return for the past 5 years?

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