Real Estate Math
A South Carolina investor paid $85,000 for a lot and sold it 2 years later for $102,000. What was the annual percentage appreciation?
A8%
B10%✓ Correct
C12%
D20%
Explanation
Total appreciation = ($102,000 − $85,000) ÷ $85,000 = $17,000 ÷ $85,000 = 20% over 2 years. Annual appreciation = 20% ÷ 2 = 10% per year (simple calculation).
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