Real Estate Math
A Mississippi property's assessed value is $95,000. If the assessment ratio is 10%, what is the estimated market value?
A$950,000✓ Correct
B$85,500
C$105,000
D$9,500
Explanation
Market Value = Assessed Value ÷ Assessment Ratio = $95,000 ÷ 0.10 = $950,000.
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