Real Estate Math
A Mississippi investor purchased a duplex 5 years ago for $180,000 and now sells it for $225,000. The investor's gross appreciation is what percentage of the original purchase price (rounded to the nearest percent)?
A20%
B25%✓ Correct
C22%
D30%
Explanation
Appreciation = ($225,000 - $180,000) ÷ $180,000 = $45,000 ÷ $180,000 = 0.25 = 25%. The property appreciated 25% over the original purchase price over 5 years.
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