Real Estate Math
A Kansas home's value increased from $145,000 to $168,200 over 5 years. What is the total percentage increase?
A14.5%
B16%✓ Correct
C17%
D18%
Explanation
Increase = ($168,200 - $145,000) ÷ $145,000 = $23,200 ÷ $145,000 = 0.16 = 16%. Using the values given ($145,000, $168,200), apply the appropriate formula.. The correct answer is 16%.. This is a common calculation on the Kansas real estate exam.
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