Real Estate Math
A Connecticut home appreciated from $360,000 to $414,000 over 3 years. What was the total percentage appreciation?
A12%
B13.5%
C15%✓ Correct
D18%
Explanation
Appreciation = $414,000 − $360,000 = $54,000. Percentage = $54,000 ÷ $360,000 = 0.15 = 15%. Using the values given ($360,000, $414,000), apply the appropriate formula.. The correct answer is 15%.. This is a common calculation on the Connecticut real estate exam.
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