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Dave bought a rental property for $990,000 cash. One year later, he sold it for $1,000,000. Suppose Dave invested only $84,000 of his own money
Dave bought a rental property for $990,000 cash. One year later, he sold it for $1,000,000. Suppose Dave invested only $84,000 of his own money and borrowed $906,000 interest-free from his rich father. What was his return on investment? (Negative amount should be indicated by a minus sign. Enter your answer as a percent rounded to 2 decimal places.)
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