Real Estate Math
A Utah home was purchased for $300,000 and sold for $375,000 three years later. What was the annualized appreciation rate? (Simple calculation)
A8.33%✓ Correct
B25%
C6.25%
D7.5%
Explanation
Total appreciation = $75,000 ÷ $300,000 = 25%. Annualized (simple) = 25% ÷ 3 years = 8.33% per year.
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