Real Estate Math

A property is listed for $425,000. After 45 days, the price is reduced by $17,000. What is the percentage reduction?

A3.8%

B4.0%✓ Correct

C4.2%

D5.0%

Explanation

Percentage reduction = $17,000 / $425,000 = 0.04 = 4.0%. Using the values given ($425,000, $17,000), apply the appropriate formula.. The correct answer is 4.0%.. This is a common calculation on the Oklahoma real estate exam.

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