Real Estate Math
A home appraised at $340,000 sells for 103% of appraised value. What is the sale price?
A$340,000
B$350,200✓ Correct
C$345,000
D$351,020
Explanation
Sale price = $340,000 × 1.03 = $350,200. To solve this, multiply the relevant values: $340,000 at 103%.. The correct answer is $350,200.. This is a common calculation on the Minnesota real estate exam.
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