Real Estate Math
A property's assessed value is $225,000. It is reassessed at 5% higher. What is the new assessed value?
A$230,000
B$236,250✓ Correct
C$225,000
D$245,000
Explanation
New assessed value = $225,000 × 1.05 = $236,250. To solve this, multiply the relevant values: $225,000 at 5%.. The correct answer is $236,250.. This is a common calculation on the Georgia real estate exam.
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