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The S&P 500 index delivered a return of 20%, 25%, 25%, and -30% over four successive years. What is the arithmetic average annual return per

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The S&P 500 index delivered a return of 20%, 25%, 25%, and -30% over four successive years. What is the arithmetic average annual return per year? A. 14% B. 12% C. 10% D. 9%

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