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Business, 28.06.2019 02:10 PrisonKing3749

Doris wade purchased a condominium for $50,000 in 1987. her down payment was $20,000she financed the remaining amount as a $30,000, 30-year mortgage at 7%, compounded monthlyher monthly payments are $200. it is now 2007 (20 years later) and doris has sold the condominium for $100,000, immediately after making her 240th payment on the unither effective annual internal rate of return on this investment is closest to which answer below? (a) 3.6% (b) 8.5% (c) 5.3% (d) 1.5%

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