Real Estate Math
A Virginia property was purchased for $195,000 and sold 5 years later for $245,000. What was the total percentage gain?
A20.4%
B22.2%
C25.6%✓ Correct
D28.3%
Explanation
Gain = ($245,000 − $195,000) ÷ $195,000 = $50,000 ÷ $195,000 = 25.64%, approximately 25.6%. Using the values given ($195,000, $245,000), apply the appropriate formula.. The correct answer is 25.6%.. This is a common calculation on the Virginia real estate exam.
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