Real Estate Math
A Utah property sells in a buyer's market. The list price is $450,000 and it sells for $432,000 after 75 days on market. What was the price reduction percentage?
A4.0%✓ Correct
B3.6%
C5.0%
D4.5%
Explanation
Reduction = ($450,000 − $432,000) ÷ $450,000 = $18,000 ÷ $450,000 = 0.04 = 4.
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