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Dave bought a rental property for $200,000 cash. One year later, he sold it for $240,000. Suppose Dave invested only $20,000 of his own money
Dave bought a rental property for $200,000 cash. One year later, he sold it for $240,000. Suppose Dave invested only $20,000 of his own money and borrowed $180,000 interest-free from his rich father. What was his return on investment?(Enter your answer as a percent rounded to the nearest whole number.)
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