Real Estate Math
A property sells for $350,000 today. The seller originally paid $220,000. What is the percentage of appreciation?
A37.1%
B45.5%
C59.1%✓ Correct
D62.7%
Explanation
Appreciation % = (Sale price − Purchase price) ÷ Purchase price × 100. ($350,000 − $220,000) ÷ $220,000 × 100 = $130,000 ÷ $220,000 × 100 = 59.1%.
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