Real Estate Math
If a New Mexico property's market value increased from $275,000 to $330,000 over 5 years, what is the total percentage increase?
A15%
B16.7%
C20%✓ Correct
D25%
Explanation
Percent increase = ($330,000 - $275,000) / $275,000 = $55,000 / $275,000 = 0.20 = 20%.
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