What was the ror on this investment

Reference no: EM13183098

At the end of 1987, you bought a piece of land for $35,000. In addition to the $35,000, you paid $1,700 in closing costs (costs associated with the purchase and title registration). For the years 1988 through 2002, you paid, on average, $950 in property taxes at the end of each year. At the end of 2003, you sold the land for $120,000. A sale time, you paid a 6% commission to the realtor and $1,600 was your share of the closing costs. What was the ROR on this investment?

Reference no: EM13183098

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