Real Estate Math
A Vermont listing price is reduced from $385,000 to $362,000. What is the percentage reduction?
A5%
B5.5%
C6%✓ Correct
D6.5%
Explanation
Reduction = ($385,000 - $362,000) / $385,000 = $23,000 / $385,000 = 0.0597 approximately 6%. Using the values given ($385,000, $362,000), apply the appropriate formula.. The correct answer is 6%.. This is a common calculation on the Vermont real estate exam.
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