The Dow Jones index delivered a return of 18%, -7%, 22%, and 9% over four successive years. What is the arithmetic average annual return per year?

International Financial Management
14th Edition
ISBN:9780357130698
Author:Madura
Publisher:Madura
Chapter13: Direct Foreign Investment
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what is the arithmetic average annual return per year? accounting question

The Dow Jones index delivered a return of
18%, -7%, 22%, and 9% over four successive
years. What is the arithmetic average annual
return per year?
Transcribed Image Text:The Dow Jones index delivered a return of 18%, -7%, 22%, and 9% over four successive years. What is the arithmetic average annual return per year?
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