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An investor puts up $20,000 but borrows an equal amount of money from his broker to double the amount invested to $40,000. The broker charges
An investor puts up $20,000 but borrows an equal amount of money from his broker to double the amount invested to $40,000. The broker charges 4% on the loan. The stock was originally purchased at $40 per share, and in 1 year the investor sells the stock for $44. The investor's rate of return was ____.
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