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Today, you buy a $500,000 property with a 20% down payment. You get a 30 year fully amortizing loan at 5%. In six years, you receive an offer to sell the house for $550,000. If you decide to take the offer, what will be your annual rate of house price appreciation? Express your answer as a percentage rounded to two decimal places. For example, if your answer is two and a half percent,

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92781458

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