Real Estate Math
A New Mexico investor paid $200,000 for a rental property 5 years ago. It is now worth $265,000. What is the percentage appreciation?
A25.0%
B32.5%✓ Correct
C28.5%
D30.0%
Explanation
Appreciation = (New Value - Original Price) / Original Price x 100. ($265,000 - $200,000) / $200,000 x 100 = $65,000 / $200,000 x 100 = 32.
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