Real Estate Math
A Mississippi real estate investor bought a property for $85,000 ten years ago and sells it for $145,000. Disregarding taxes and expenses, the total appreciation is approximately:
A60.5%
B70.6%✓ Correct
C65.0%
D55.0%
Explanation
Appreciation = ($145,000 − $85,000) ÷ $85,000 = $60,000 ÷ $85,000 = 70.6%. Using the values given ($85,000, $145,000), apply the appropriate formula.. The correct answer is 70.6%.. This is a common calculation on the Mississippi real estate exam.
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