Real Estate Math
A property is purchased for $185,000 and sold 5 years later for $240,500. What is the total appreciation?
A$55,500✓ Correct
B$50,000
C$45,500
D$60,000
Explanation
Appreciation = Sale price − Purchase price = $240,500 − $185,000 = $55,500. Using the values given ($185,000, $240,500), apply the appropriate formula.. The correct answer is $55,500.. This is a common calculation on the Montana real estate exam.
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