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Tom decides to begin investing some portion of his annual bonus, beginning this year with $5,624. In the first year he earns a 10.46% return
Tom decides to begin investing some portion of his annual bonus, beginning this year with $5,624. In the first year he earns a 10.46% return and adds $6,179 to his investment. In the second year his portfolio loses 9.69%. What is Tom's dollar-weighted (money-weighted) average return (in percent) on his investments after two years? Answer to two decimals.
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