3. You purchased a house for $125,000. You spent $15,000 for repairs and redecorating, property taxes, and

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3. You purchased a house for $125,000. You spent $15,000 for repairs and redecorating, property taxes, and other expenses. You sold the house 1 year later for $160,000. How much profit did you make on the house? What is your return on investment?

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