Real Estate Math
A property in Seattle was purchased for $750,000. After 10 years, it is sold for $1,100,000. What is the total appreciation and the percentage gain?
A$350,000 gain; 46.7% appreciation✓ Correct
B$350,000 gain; 31.8% appreciation
C$350,000 gain; 32% appreciation
D$400,000 gain; 53.3% appreciation
Explanation
Gain = $1,100,000 – $750,000 = $350,000. Percentage appreciation = $350,000 ÷ $750,000 × 100 = 46.
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