Real Estate Math (alternative)
A Maryland property was purchased for $185,000 and sold 8 years later for $265,000. The total percentage appreciation is approximately:
A28.6%
B33.5%
C43.2%✓ Correct
D46.4%
Explanation
Appreciation = ($265,000 – $185,000) ÷ $185,000 = $80,000 ÷ $185,000 = 0.4324 ≈ 43.2%. Using the values given ($185,000, $265,000), apply the appropriate formula.. The correct answer is 43.2%.. This is a common calculation on the Maryland real estate exam.
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