Real Estate Math
A Wyoming buyer paid $240,000 for a home 3 years ago and sells it today for $288,000. What is the percentage appreciation?
A15%
B20%✓ Correct
C25%
D48%
Explanation
Appreciation = (Sale price - Purchase price) / Purchase price x 100 = ($288,000 - $240,000) / $240,000 x 100 = $48,000 / $240,000 x 100 = 20%.
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