Real Estate Math
A Hawaii property is purchased for $600,000 and sold 3 years later for $720,000. What is the percentage appreciation?
AA. 15%
BB. 20%✓ Correct
CC. 25%
DD. 30%
Explanation
Appreciation = ($720,000 - $600,000) / $600,000 = $120,000 / $600,000 = 0.20 = 20%.
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