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calculating rate of return
i'm trying to calculate the average rate of return and see to be having some issues compared to another person i'm comparing values with. am i on crack?
yr 2011 - rate of return: -7.20%
yr 2012 - rate of return: 12.11%
average rate of return over the two years: (-7.20 + 12.11)/2 = 2.455%
my buddy says two year rate of return is 10.39%.
how is it 10.39? am I calculating average wrong??
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