Real Estate Math
A property is purchased for $160,000 and sold three years later for $184,000. What is the total appreciation?
A12%
B13%
C14%
D15%✓ Correct
Explanation
Appreciation = ($184,000 − $160,000) ÷ $160,000 = $24,000 ÷ $160,000 = 0.15 = 15%.
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