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A property is purchased for $ 6 6 5 , 0 3 4 with an 8 5 percent LTV . After 6 years, the owner's

A property is purchased for $665,034 with an 85 percent LTV. After 6 years, the owner's equity (initial equity investment plus growth in property value) is $319,392. What would be the approximate annual expected compounded appreciation rate on home equity?
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