Real Estate Math
A property was purchased for $180,000 three years ago. It has appreciated 5% per year (simple). What is its current value?
A$189,000
B$207,000✓ Correct
C$194,400
D$210,000
Explanation
Simple appreciation: $180,000 × 5% × 3 = $27,000 appreciation. Current value = $180,000 + $27,000 = $207,000.
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