Real Estate Math
An investor buys a New York property for $1,100,000 and sells it 3 years later for $1,430,000. What is the percentage gain on the original investment?
A20%
B25%
C30%✓ Correct
D35%
Explanation
Gain = $1,430,000 - $1,100,000 = $330,000. Percentage gain = $330,000 / $1,100,000 = 0.30 = 30%. Using the values given ($1,100,000, $1,430,000), apply the appropriate formula.. The correct answer is 30%.. This is a common calculation on the New York real estate exam.
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