Question

A property sells for $140,000 two years after it was purchased. If the annual appreciation rate is 6%, how much did the original buyer pay for it?

Answer 1

Answer:

$123,200

Step-by-step explanation:

0.06 x 2 = 0.12

140,000 x 0.12 = 16,800

140,000 - 16,800 = 123,200