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A comparable property sold 17 months ago for $115,000. If the appropriate adjustment for market conditions is 0.30% per month (without compounding), what would be the adjusted price of the comparable property

Respuesta :

Answer and Explanation:

The computation is shown below:

Without compounding, the adjusted price of the comparable property is  

= $115,000 Ă— (1+ (0.003 Ă— 17))

= $115,000 Ă— 1.051

= $120,865

And,  

With compounding:

= $115,000 Ă— (1.003)^10

= $115,000 Ă— 1.030408

= $118,496.92

In this way it should be calculated

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