Real Estate Math
A Wyoming commercial property was purchased for $1,200,000. After 5 years it was sold for $1,500,000. Ignoring depreciation and expenses, what was the total appreciation?
A$100,000
B$200,000
C$300,000✓ Correct
D$500,000
Explanation
Total appreciation = Sale price - Purchase price = $1,500,000 - $1,200,000 = $300,000. Percentage appreciation = $300,000 / $1,200,000 = 25% over 5 years.
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