Real Estate Math
An Iowa property was listed for $289,000 and sold for $275,500. What was the percent below list price?
A4.0%
B4.4%
C4.7%✓ Correct
D5.1%
Explanation
Difference = $289,000 − $275,500 = $13,500. Percent below = $13,500 ÷ $289,000 ≈ 0.0467 ≈ 4.7%. Using the values given ($289,000, $275,500), apply the appropriate formula.. The correct answer is 4.7%.. This is a common calculation on the Iowa real estate exam.
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