Real Estate Math
A Kansas home was purchased 10 years ago for $125,000 and is now worth $187,500. What is the annual appreciation rate (simple, not compound)?
A5%✓ Correct
B5.5%
C6%
D6.5%
Explanation
Total appreciation = ($187,500 - $125,000) / $125,000 = 50%. Annual rate (simple) = 50% / 10 = 5% per year.
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