Real Estate Math
If a property's value increases from $400,000 to $460,000, what is the percentage increase in value?
A12%
B13%
C15%✓ Correct
D17%
Explanation
Percentage increase = ($460,000 - $400,000) / $400,000 = $60,000 / $400,000 = 0.15 = 15%. Using the values given ($400,000, $460,000,), apply the appropriate formula.. The correct answer is 15%.. This is a common calculation on the New York real estate exam.
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