Real Estate Math
A property is purchased for $420,000 and sold 3 years later for $483,000. What is the percentage appreciation?
A10%
B12%
C13%
D15%✓ Correct
Explanation
Appreciation = ($483,000 − $420,000) ÷ $420,000 = $63,000 ÷ $420,000 = 0.15 = 15%.
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