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You own a stock that has produced an arithmetic average return of 8.6 percent over the past five years. The annual returns for the first
You own a stock that has produced an arithmetic average return of 8.6 percent over the past five years. The annual returns for the first four years were 16, 11, -19, and 3 percent, respectively. What was the percent rate of return on the stock in year five?(Make sure to enter the answer in percent and not decimals.)
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