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You purchased a nice townhouse two years ago for $ 2 0 0 , 0 0 0 . You can sell it today for $

You purchased a nice townhouse two years ago for $

200, 000 .

You can sell it today for $

250, 000 .

What annual rate of return

(%)

have you earned?

8 % 25 %

none of the above.

11.8 % 12.5 %

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