Real Estate Math
An Ohio investor pays $520,000 for a property and sells it 3 years later for $598,000. What is the total percentage gain on the original investment?
A13%
B15%✓ Correct
C17%
D19%
Explanation
Gain = $598,000 − $520,000 = $78,000. Percentage gain = $78,000 / $520,000 = 15%. Using the values given ($520,000, $598,000), apply the appropriate formula.. The correct answer is 15%.. This is a common calculation on the Ohio real estate exam.
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