A comparable property sold 4 months ago for $287,000. If the appropriate adjustment for market conditions is -0.50% per month (without compounding), what would be the adjusted price of the comparable property assuming all else is the same between the two properties?
A) $269,780.00
B) $281,260.00
C) $285,565.00
D) $292,740.00

Question

Quizplus · Accepted Answer

The adjustment for market conditions is -0.50% per month for 4 months, which totals -2% (0.50% * 4). The adjusted price is calculated as $287,000 * (1 - 0.02) = $287,000 * 0.98 = $281,260.

A Comparable Property Sold 4 Months Ago for $287,000