An investor purchased a one-acre lot on the outskirts of a city for $9000 cash. Each year
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An investor purchased a one-acre lot on the outskirts of a city for $9000 cash. Each year he paid $80 of property taxes. At the end of 4 years, he sold the lot. After deducting his selling expenses, the investor received $15,000. What rate of return did he receive on his investment?
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PW of Benefits PW of Cost 0 15000 PF i 4 9000 80 ...View the full answer
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