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The S&P 500 Index delivered a return of 25%, -15%, 30%, and 5% over four successive years. What is the arithmetic average annual return per

The S&P 500 Index delivered a return of 25%, -15%, 30%, and 5% over four successive years. What is the arithmetic average annual return per year? A. 13.5% B. 12.38% C. 16.88% OD 11.25%

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