You purchased a piece of property for $30, 000 nine years ago and sold it today for $ 83,190. What was the rate of return on your investment?

EBK CFIN
6th Edition
ISBN:9781337671743
Author:BESLEY
Publisher:BESLEY
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 18PROB
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You purchased a piece of
property for $30, 000 nine years
ago and sold it today for $
83,190. What was the rate of
return on your investment?
12% 11% 9% 10%
Transcribed Image Text:You purchased a piece of property for $30, 000 nine years ago and sold it today for $ 83,190. What was the rate of return on your investment? 12% 11% 9% 10%
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