Real Estate Math
A property purchased for $185,000 five years ago sold today for $240,500. What is the total percentage appreciation?
AA. 25%
BB. 30%✓ Correct
CC. 23%
DD. 28%
Explanation
Appreciation = ($240,500 − $185,000) ÷ $185,000 = $55,500 ÷ $185,000 = 0.30 = 30%.
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