Real Estate Math
A Vermont house is purchased for $295,000 and sells 4 years later for $355,000 after $15,000 of improvements. What is the net gain?
A$45,000✓ Correct
B$60,000
C$75,000
D$30,000
Explanation
Net gain = Sale price - (Purchase price + Improvements) = $355,000 - ($295,000 + $15,000) = $355,000 - $310,000 = $45,000.
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