Real Estate Math (alternative)
A Maryland buyer pays $395,000 for a home. 5 years later they sell for $450,000. The appreciation in dollar terms is:
A$45,000
B$55,000✓ Correct
C$75,000
D$100,000
Explanation
Appreciation = $450,000 – $395,000 = $55,000. Using the values given ($395,000, $450,000), apply the appropriate formula..
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