Real Estate Math
A South Dakota property was appraised at $320,000. The property is assessed at 85% of appraised value. What is the assessed value?
A$240,000
B$272,000✓ Correct
C$288,000
D$320,000
Explanation
Assessed value = $320,000 × 85% = $272,000. To solve this, multiply the relevant values: $320,000 at 85%.. The correct answer is $272,000.. This is a common calculation on the South Dakota real estate exam.
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