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You invested $1,000 for 5 years. The investment increased by 10% for 3 years and then went down by 10% per year for the last 2 years. You did a calculation and found out that your average rate of return was 2%. Based on a 2% compounded rate, you calculated that you should have $1,104 in your account but it turned out that you only had $1,078. So, what was your average compounded annual growth rate (the Geometric Mean)?

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Financial Management, Finance

Category:- Financial Management
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