Bill bought a vacation lot he saw advertised on television for $9000 down and monthly payments of... Bill bought a vacation lot he saw advertised on television for $9000 down and monthly payments of $500. When he visited the lot he found that it was not something he wanted to own. After 40 months he was finally able to sell the lot. The new owner assumed the balance of the loan on the lot and paid bill $21000. What rate of return did bill receive on his investment?

Please solve on excel or another spreadsheet service.