Real Estate Math
A Kentucky home was purchased for $150,000 five years ago and is now worth $195,000. What is the percentage of appreciation?
A23%
B30%✓ Correct
C25%
D35%
Explanation
Appreciation percentage = (Current value minus Purchase price) divided by Purchase price x 100. ($195,000 minus $150,000) / $150,000 x 100 = $45,000 / $150,000 x 100 = 30%.
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