Real Estate Math
A Mississippi property's land is valued at $40,000 and improvements are valued at $160,000. The land represents what percentage of total value?
A20%✓ Correct
B25%
C30%
D40%
Explanation
Total value = $40,000 + $160,000 = $200,000. Land % = $40,000 ÷ $200,000 = 20%. Using the values given ($40,000, $160,000), apply the appropriate formula.. The correct answer is 20%.. This is a common calculation on the Mississippi real estate exam.
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