Answer:
$566870.4
Step-by-step explanation:
We are told in the question that:
A property currently valued at 450,000 expected to appreciate 8% each year for the next three years.
It's appreciated value after 3 years is calculated as:
Appreciated value = Current value ( 1 + rate of appreciation)^t
Current value = $450,000
Rate = 8% = 0.08
Time = 3 years
Appreciated value = $450,000( 1 + 0.08)³
$450,000 × (1.08)³
Appreciate value = $566870.4
