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The historical record for the period 1926-2011 shows that the annual nominal rate of return on: large company stocks has averaged around 9 percent. risk-free

The historical record for the period 1926-2011 shows that the annual nominal rate of return on:

large company stocks has averaged around 9 percent.

risk-free securities has averaged around 5 percent.

U.S. Treasury bills is constant.

the Consumer Price Index has been positive every year.

U.S. Treasury bills have had a positive rate of return for every year in the period.

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