Real Estate Math
A Connecticut seller paid $310,000 for a home 6 years ago. The home has appreciated at 4% per year (compounded). What is the approximate current value?
A$384,800
B$374,400
C$310,000✓ Correct
D$385,000
Explanation
Compounded appreciation: $310,000 × (1.04)^6 = $310,000 × 1.2653 ≈ $392,243. The. To solve this, multiply the relevant values: $310,000 at 4%.. The correct answer is $310,000.. This is a common calculation on the Connecticut real estate exam.
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