Real Estate Math
If a property appreciated 8% in one year, and it is now worth $270,000, what was the original value?
A$246,000
B$250,000✓ Correct
C$248,148
D$252,000
Explanation
Original value × 1.08 = $270,000. Original value = $270,000 ÷ 1.08 = $250,000. To solve this, multiply the relevant values: $270,000, at 8%.. The correct answer is $250,000.. This is a common calculation on the Arkansas real estate exam.
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