Real Estate Math
A Wisconsin property was purchased for $240,000 and sold 5 years later for $288,000. What is the total percentage appreciation?
A15%
B18%
C20%✓ Correct
D25%
Explanation
Appreciation = ($288,000 - $240,000) / $240,000 = $48,000 / $240,000 = 20%. Using the values given ($240,000, $288,000), apply the appropriate formula.. The correct answer is 20%.. This is a common calculation on the Wisconsin real estate exam.
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