Real Estate Math
A Wyoming property was purchased for $420,000 and sold 5 years later for $504,000. Ignoring expenses, what was the total return?
A15%
B20%✓ Correct
C25%
D84%
Explanation
Total return = (Sale price - Purchase price) / Purchase price x 100 = ($504,000 - $420,000) / $420,000 x 100 = $84,000 / $420,000 x 100 = 20% total over 5 years.
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