Real Estate Math
A South Dakota property was purchased for $200,000 and sold for $240,000. What is the percentage of 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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