Real Estate Math
A Kentucky real estate investor's property was purchased for $200,000 and appreciated 4% annually for 5 years. What is the approximate value at the end of 5 years?
A$240,000
B$243,331
C$244,163✓ Correct
D$248,000
Explanation
Using compound appreciation: $200,000 × (1.04)^5 = $200,000 × 1.
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