Real Estate Math
An Alaska home was purchased for $290,000 three years ago. It is now worth $341,000. The total appreciation over 3 years as a percentage is approximately:
A14.7%
B15.5%
C17.6%✓ Correct
D20.6%
Explanation
Appreciation = ($341,000 − $290,000) ÷ $290,000 × 100 = $51,000 ÷ $290,000 × 100 = 17.59%, approximately 17.6%.
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