Real Estate Math
A Missouri investor buys a property for $400,000 and sells it 3 years later for $460,000. The percentage appreciation is:
A10%
B13%
C15%✓ Correct
D17%
Explanation
Appreciation % = (Sale Price - Purchase Price) / Purchase Price x 100 = ($460,000 - $400,000) / $400,000 x 100 = $60,000 / $400,000 x 100 = 15%.
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