An investor purchased a one-acre lot on the outskirts of a city for $9000 cash. Each year

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An investor purchased a one-acre lot on the outskirts of a city for $9000 cash. Each year he paid $80 of property taxes. At the end of 4 years, he sold the lot. After deducting his selling expenses, the investor received $15,000. What rate of return did he receive on his investment?
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Engineering Economic Analysis

ISBN: 9780195168075

9th Edition

Authors: Donald Newnan, Ted Eschanbach, Jerome Lavelle

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