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The estimated average return (E(R)) on an investment portfolio is 6.65%. Assume that the returns follow a normal distribution and the estimated standard deviation of

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The estimated average return (E(R)) on an investment portfolio is 6.65%. Assume that the returns follow a normal distribution and the estimated standard deviation of returns is 21.08% per year. What is the expected CAGR (geometric mean) of returns? Enter the answer as a decimal (with 4 decimal places). For example 3.7124% = 0.0371

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