Real Estate Math
A Michigan property has an assessed value (SEV) of $95,000. If this represents 50% of market value, what is the market value?
A$47,500
B$190,000✓ Correct
C$142,500
D$285,000
Explanation
SEV = 50% of market value. Market value = SEV / 0.50 = $95,000 / 0.50 = $190,000. To solve this, multiply the relevant values: $95,000 at 50%.. The correct answer is $190,000.. This is a common calculation on the Michigan real estate exam.
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