Real Estate Math (alternative)
A Maryland property was purchased for $200,000 and sold five years later for $270,000. The total appreciation in dollar amount is:
A$60,000
B$80,500✓ Correct
C$80,000
D$42,500
Explanation
Appreciation = Sale price − Purchase price = $270,000 − $200,000 = $70,000. Using the values given ($200,000, $270,000), apply the appropriate formula..
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