Real Estate Math
A Michigan seller paid $185,000 for a home 3 years ago and is now selling it for $235,000. What is the dollar appreciation?
A$40,000
B$50,000✓ Correct
C$45,000
D$55,000
Explanation
Appreciation = Sale price - Purchase price = $235,000 - $185,000 = $50,000. Using the values given ($185,000, $235,000), apply the appropriate formula..
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