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A comparable property sold four 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?

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Answer:

$281,260

Explanation:

Question mentions no compounding takes place here.

So adjusted property value = Value n period ago * [1+ (Adjustment factor * n)]

Adjusted property value = 287000 * [1+(-0.50% * 4)] = 287000 * [1+(-2%)] = 287,000 * 98% = $281,260 --> Answer

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