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17) An investor puts up $9,000 but borrows an equal amount of money from his broker to double the amount invested to $18,000. The broker

17)

An investor puts up $9,000 but borrows an equal amount of money from his broker to double the amount invested to $18,000. The broker charges 7% on the loan. The stock was originally purchased at $45 per share, and in 1 year the investor sells the stock for $54. The investor's rate of return was ____.

Multiple Choice

  • 33.00%

  • 23.50%

  • 16.50%

  • 13.00%

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