Annual rate of return on your investment, Accounting Basics

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Annual rate of return on your investment

Problem:

You just purchased a parcel of land for $10,000. If you expect a 12% annual rate of return on your investment, how much will you sell the land for in 10 years?

$25,000
$31,060
$38,720
$34,310

Note: Please explain comprehensively and give step by step solution.

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Accounting Basics: Annual rate of return on your investment

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Accounting Basics: Annual rate of return on your investment

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