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A comparable property sold 8 months ago for $125,000. This sale price is adjusted to a normal sale price of $123,200. If the appropriate adjustment for market conditions is .25% per month, what would be the market-adjusted normal sale price of the comparable property?

Respuesta :

Answer:

market-adjusted normal sale price is $125686

Explanation:

given data

time = 8 month

sold = $125000

normal sale price = $123200

market condition = 0.25 % per month

to find out

market-adjusted normal sale price

solution

we know here normal sale price and time with market condition rate

so

market adjusted normal sale price is express as

market adjusted normal sale price = normal sale price × [tex](1+rate)^{t}[/tex]

here t is time and rate is market condition rate so put here value

market adjusted normal sale price = 123200 × [tex](1+0.0025)^{8}[/tex]

market adjusted normal sale price = 125685.6681

so market-adjusted normal sale price is $125686

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