Question: The arithmetic average return on your portfolio for the past 5 years is 9.3 percent. You earned 7.4 percent, 17.1 percent, 6.3 percent, and 11.8

The arithmetic average return on your portfolio for the past 5 years is 9.3 percent. You earned 7.4 percent, 17.1 percent, 6.3 percent, and 11.8 percent for 4 of those 5 years. What rate of return did you earn in the fifth year?

1) 13.2%

2) 19.6%

3) 18.7%

4) 17.5%

5) 16.0%

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