Real Estate Math
An Alaska property is worth $500,000 and depreciates in value by 2% per year for 5 years. What is the value after 5 years?
A$400,000
B$448,000
C$450,000
D$452,000✓ Correct
Explanation
Annual decline: Year 1: $500,000 × 0.98 = $490,000.
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