Real Estate Math
An investor in Rhode Island purchases a property for $200,000 and sells it 3 years later for $240,000. What is the percentage appreciation?
A15%
B17%
C20%✓ Correct
D25%
Explanation
Appreciation = ($240,000 - $200,000) / $200,000 = $40,000 / $200,000 = 0.20 = 20%.
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