If a property appreciated 2% in the past year, how much would the property be worth today if it was valued at $220,000 a year ago

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07-04-2022
Business

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If a property appreciated 2% in the past year, how much would the property be worth today if it was valued at $220,000 a year ago

Sagot :

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ewomazinoade ewomazinoade · Answer 1 · 2022-04-19T06:24:00-04:00

The value of the property today after it has appreciated in value is $224,400.

What is the value of the property today?

When a property appreciates in value, it means that it becomes more valuable to own the property. The property becomes more expensive when it appreciates.

Value of the property = (1 + appreciation) x initial alue

1.02 x $220,000 = $224,400.

To learn more about appreciation, please check: https://brainly.com/question/26847097

Sagot :

What is the value of the property today?

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