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    Rate of Return Formula

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    What formula would I use to sove the following problem?

    If you buy a piece of land for $10,000 and spend $1,000 per year on taxes, what is the rate of return if you sell the land for $20,000 after 6 years?

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    https://brainmass.com/economics/investments/rate-return-formula-33316

    Solution Summary

    Rate of Return Formula is applied.

    $2.49

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