Last year you purchased a beach home for the bargain price of $450,000 with some random cash you were keeping on your nightstand.   You earned a net rental income of $23,000 over the year's time and the home is now worth $526,000.  What is your annual rate of return on your investment? Show detailed work.

Answer rating: 100% (QA)

To calculate the annual rate of return on your investment we need to consider the initial ... View the full answer