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I know the answer is 17%, but need to know exactly how to get to this answer, please show all work :) An investor puts
I know the answer is 17%, but need to know exactly how to get to this answer, please show all work :) An investor puts up $5,000 but borrows an equal amount of money from his broker to double the amount invested to $10,000. The broker charges 7% on the loan. The stock was originally purchased at $25 per share, and in 1 year the investor sells the stock for $28. The investor's rate of return was
I know the answer is 17%, but need to know exactly how to get to this answer, please show all work :)
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