Real Estate Math
A Vermont investment property was purchased for $500,000. After 5 years, it is worth $640,000. What was the total appreciation percentage?
A22%
B24%
C26%
D28%✓ Correct
Explanation
Total appreciation = ($640,000 - $500,000) / $500,000 = $140,000 / $500,000 = 0.28 = 28%. Using the values given ($500,000, $640,000), apply the appropriate formula.. The correct answer is 28%.. This is a common calculation on the Vermont real estate exam.
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