I missed this question on my exam. I would like to know how did they arrive at 35%. Please show me how. Thank you! Correct!You AnsweredCorrect AnswerQuestion 3Amortization is thepractice of charging interest on a loan.process of gradually retiring a debt by periodic payments.compounding of interest.use of debt to enhance the rate of return.Question 460%Bill and nine of his friends each contributed $10,000 to form a real investmentgroup. The group then purchased a small retail center for $350,000 using aninterest-only loan for $250,000 at 10% annual interest. At the end of one year, thebuilding was sold for $410,000. What is the rate of return on Bill's investment?17%35%2/2 pts15%0/2 pts

Rate of return or Return on Investment is a simple method of measuring the profitability percentage…

u Answered rrect Answer Question 4 Bill and nine of his friends each contributed $10,000 to form a real investment group. The group then purchased a small retail center for $350,000 using an interest-only loan for $250,000 at 10% annual interest. At the end of one year, the building was sold for $410,000. What is the rate of return on Bill's investment? 60% 17% 0/2 pts 35%

u Answered rrect Answer Question 4 Bill and nine of his friends each contributed $10,000 to form a real investment group. The group then purchased a small retail center for $350,000 using an interest-only loan for $250,000 at 10% annual interest. At the end of one year, the building was sold for $410,000. What is the rate of return on Bill's investment? 60% 17% 0/2 pts 35%

Foundations of Business - Standalone book (MindTap Course List)

4th Edition

ISBN:9781285193946

Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor

Publisher:William M. Pride, Robert J. Hughes, Jack R. Kapoor

Chapter15: Using Management And Accounting Information

Section: Chapter Questions

Problem 5DQ

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