Answer:
development of an opinion of market value.
Explanation:
As defined in USPAP, an appraisal is the act or process of developing an opinion of value. The valuation process is a systematic procedure the appraiser follows to answer a client's question about real property value. The most common type of appraisal assignment is the development of an opinion of market value.
Answer: $25000
Explanation:
From the question, we are informed that Betty made a 20% profit on a residential lot she sold for $30,000. Let the cost price of the property be represented by x.
Therefore, (100% + 20%) of x = $30000. This means that 120% of x = $30000.
120% × x = $30000
1.2x = $30000
x = $30000/1.2
x = $25000
Therefore, the amount paid for the property is $25000
Answer:
The correct answer is C.
Explanation:
Giving the following information:
Cash inflows:
Year 1= $11,000
Year 2= $24,000
Year 3= $36,000
To calculate the present value, we need to use the following formula:
FV= PV*(1+i)^n
Isolating PV:
PV= FV/(1+i)^n
Year 1= 11,000/(1.12)= $9,821.43
Year 2= 24,000/(1.12^2)= $19,132.65
Year 3= 36,000/(1.12^3)= $25,624.09
Total= $54,578.17
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