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Bill and nine of his friends each contributed $10,000 to form a real investment group. The group then purchased a small retail center for $350,000
Bill and nine of his friends each contributed $10,000 to form a real investment group. The group then purchased a small retail center for $350,000 using an interest-only loan for $250,000 at 10% annual interest. At the end of one year, the building was sold for $410,000. What is the rate of return on Bills investment?
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