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You own a stock that has produced an arithmetic average return of 9.25 percent over the past five years. The annual returns for the first
You own a stock that has produced an arithmetic average return of 9.25 percent over the past five years. The annual returns for the first four years were 16.6, 11.25, -19.50, and 3.73 percent, respectively. What was the rate of return on the stock in year five? (Enter the answer as a percent accurate to two decimal places. For example, if your calculated answer is -0.08267 you would enter -8.27 and just that. Do not include any percentage symbol or any other symbols of punctuation.)
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