A property was bought for 17 million and was sold 10 years later for $30 million. The
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Question:
A property was bought for 17 million and was sold 10 years later for $30 million. The property was initially financed with a 75% LTV mortgage. The interest rate on the mortgage was 4.25% and had a 30 year amortization schedule. The property generates $1,360,000 per year. What is the annualized return.
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