Real Estate Math
A property's assessed value has increased from $22,000 to $25,300. What is the percentage increase in assessed value?
A13.5%
B14.2%
C15.0%✓ Correct
D12.5%
Explanation
Increase = $25,300 - $22,000 = $3,300. Percentage increase = $3,300 / $22,000 = 0.15 = 15%. Using the values given ($22,000, $25,300), apply the appropriate formula.. The correct answer is 15.0%.. This is a common calculation on the Oklahoma real estate exam.
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