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The bank will lend my parent 77% of the value of the property at 7.6% interest rate. My parent would like to get return of
The bank will lend my parent 77% of the value of the property at 7.6% interest rate. My parent would like to get return of 11.6%. What is the minimum required return of the property to achieve their investment objectives and their obligations to the bank? (Your answer need to be in four decimal places, for example 5.85% would be entered as 0.0585)
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