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Keerapat is considering the purchase of a lot. He can buy the lot today and...

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Accounting

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Keerapat is considering the purchase of a lot. He can buy the lot today and expects the price to rise to $15,000 at the end of 5 year, He believes that he should earn an investment yield of 12.5 percent annually on his investment. The asking price for the lot is $9,000. What is the effective annual yield of the investment if John purchases the property for $9,000 and is able to sell it 5 years later for $15,000

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