Real Estate Math
A Washington property appreciated 5% per year for 3 years from an original value of $400,000. What is the value after 3 years?
A$460,000
B$460,150
C$463,050✓ Correct
D$480,000
Explanation
Year 1: $400,000 × 1.05 = $420,000. Year 2: $420,000 × 1.05 = $441,000. Year 3: $441,000 × 1.05 = $463,050. Compound appreciation results in $463,050.
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