Real estate developer purchased a piece of property

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A real estate developer purchased a piece of property at the end of December 2005 for $250,000. The developer sold it at the end of a few years later for $860,000 and was pleased to see that the annual rate of return was 16.7%. When was the property sold (at the end of December in what year)? That is, the developer sold the property at the end of December

Reference no: EM13849413

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