Real Estate Math
A property is purchased for $175,000 and sold 3 years later for $196,000. What is the total percentage appreciation?
A10.5%
B12.0%✓ Correct
C11.4%
D14.3%
Explanation
Appreciation = ($196,000 − $175,000) ÷ $175,000 = $21,000 ÷ $175,000 = 12.0%. Using the values given ($175,000, $196,000), apply the appropriate formula.. The correct answer is 12.0%.. This is a common calculation on the Indiana real estate exam.
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