Real Estate Math
A homeowner bought a NC property for $280,000 five years ago and is selling it for $350,000. The percentage increase in value is:
A20%
B25%✓ Correct
C28%
D30%
Explanation
Percentage increase = (New - Old) / Old = ($350,000 - $280,000) / $280,000 = $70,000 / $280,000 = 0.25 = 25%.
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