Real Estate Math
A NJ property is purchased for $320,000 and resold 2 years later for $352,000. What is the total percentage appreciation?
A8%
B10%✓ Correct
C12%
D15%
Explanation
Appreciation = ($352,000 – $320,000) ÷ $320,000 = $32,000 ÷ $320,000 = 0.10 = 10% total appreciation over 2 years.
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