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The annual log returns on a portfolio is 12% and 8% separately over two years. Assume the initial investment on this portfolio is $1,000, what

The annual log returns on a portfolio is 12% and 8% separately over two years. Assume the initial investment on this portfolio is $1,000, what is the portfolio value at the
end of the year two considering the continuously compounding?
$1209.6
$1221.4
$12,840.25
O $12 656.25

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