Real Estate Math
A South Carolina appraiser uses the age-life method. The building is 15 years old with a total economic life of 60 years. What is the depreciation percentage?
A15%
B20%
C25%✓ Correct
D30%
Explanation
Depreciation % = Effective Age ÷ Total Economic Life = 15 ÷ 60 = 0.25 = 25%. Apply the appropriate real estate math formula to arrive at the answer.. The correct answer is 25%.. This is a common calculation on the South Carolina real estate exam.
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