Problem:
You purchased 1,300 shares of LKL stock 5 years ago and have earned annual returns of 7.1 percent, 11.2 percent, 3.6 percent, -4.7 percent and 11.8 percent.
Required:
Question: What is your arithmetic average return?
- 4.47 percent
- 5.80 percent
- 6.23 percent
- 6.47 percent
- 6.98 percent
Note: Explain all calculation and formulas.