At the end of 2007, the IRA owned by Joe Smith had a value of $1.2 million. With a rate of return of −29.75 percent in 2008 and a rate of return of 2.98 percent in 2009, calculate the geometric mean rate of return for the two-year period.

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The Answer of At the end of 2007, the IRA owned by Joe Smith had a value of $1.2 million. With a rate of return of −29.75 percent in 2008 and a rate of return of 2.98 percent in 2009, calculate the geometric mean rate of return for the two-year period.

At the End of 2007, the IRA Owned by Joe