Real Estate Math
A home's assessed value is $210,000 at 85% of market value. What is the estimated market value?
A$178,500
B$210,000✓ Correct
C$225,000
D$252,000
Explanation
Market value = Assessed value ÷ Assessment ratio = $210,000 ÷ 0.85 ≈ $247,059.
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