9
QuizMultiple Choice

Real Estate Investments

Question 9 • 26-27 Ignite Financial Literacy Personal Finance - EL3403

Aria paid $75,000 for her house. Its property value increased by 2.2% per year. When Aria sold her house after eleven years, how much was it worth, to the nearest hundred dollars?

Answer
A
$133,700
B
$95,400
C
$95,300
D
$93,100

Explanation

A yearly increase of 2.2% means the house’s value is multiplied by 1.022 each year. After 11 years, its value is $75,000 × (1.022)^11 ≈ $95,300. Rounded to the nearest hundred dollars, the house was worth $95,300, choice C.

AI-written and checked against the verified answer.

Previous
Next