Over the past four years, the Dow Jones Industrial Average (DJIA) delivered annual returns of 12%, -3%, 18%, and 9%. What is the arithmetic average annual return per year? a) 10.25% b) 8.50% c) 9.00% d) 9.75%

Financial Management: Theory & Practice
16th Edition
ISBN:9781337909730
Author:Brigham
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Chapter12: Corporate Valuation And Financial Planning
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Problem 3P: Smiley Corporations current sales and partial balance sheet are shown here. Sales are expected to...
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Over the past four years, the Dow
Jones Industrial Average (DJIA)
delivered annual returns of 12%, -3%,
18%, and 9%.
What is the arithmetic average annual
return per year?
a) 10.25%
b) 8.50%
c) 9.00%
d) 9.75%
Transcribed Image Text:Over the past four years, the Dow Jones Industrial Average (DJIA) delivered annual returns of 12%, -3%, 18%, and 9%. What is the arithmetic average annual return per year? a) 10.25% b) 8.50% c) 9.00% d) 9.75%
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