Who determines the salary and benefits government officials receive each year
1 answer:
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Answer:
79.5%.
Explanation:
Rate of return = x 100
The cost of the acre = $12700.
Total property taxes paid for 7 years = $175 x 7
= $1225
Net value of cost = $12700 + $1225
= $13925
Net value of the land when sold = $25000
∴ Rate of return = x 100
= 0.7953 x 100
= 79.53%
The rate of return of the acre of land is 79.5%.