Real Estate Math
An investment property in Columbia, SC was purchased for $350,000 and sold for $420,000 after 3 years. What was the total return on investment (ROI)?
A16.7%
B20%✓ Correct
C25%
D30%
Explanation
ROI = (Sale Price − Purchase Price) ÷ Purchase Price = ($420,000 − $350,000) ÷ $350,000 = $70,000 ÷ $350,000 = 20%.
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