Real Estate Math
A Maine home was purchased for $200,000. After 10% appreciation, then a 5% decline, the current value is:
A$205,000
B$209,000✓ Correct
C$198,000
D$195,000
Explanation
After 10% appreciation: $200,000 × 1.10 = $220,000. After 5% decline: $220,000 × 0.95 = $209,000. To solve this, multiply the relevant values: $200,000 at 10%.. The correct answer is $209,000.. This is a common calculation on the Maine real estate exam.
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