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3 years ago

There are a number of specific steps in the appraisal process. What is the final step?

Business

1 answer:

ra1l [238]3 years ago

8 0

Answer:

To Prepare an appraisal report

Explanation:

The steps which are involved in the appraisal process are:

1. Stating the purpose.

2. Listing the data needed and its source

3. Gathering, recording and verifying the data.

4. Gathering, recording and verifying the specific data.

5. Gathering, recording and verifying the data for each approach.

6. Analyzing and interpreting the data.

7. Reconciling the data for the final estimation.

8. Prepare an appraisal report.

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Bob bought some land costing $16,390. today, that same land is valued at $46,817. How long has bob owned this land if the price

faltersainse [42]

Bob has to own his land for 18 years if the price is increasing at the rate of 6% per year.

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We are required to find the time for which Bob need to own the land so that the price of the land is $46817 today.

Compounding means calculating amount on the principal and the amount added interest.

Rate of increasing the price of land be 6%.

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Price of land today=$46817.

It is like compounding of interest and the sum is calculated as under:

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46817/16390= $(1.06)^{n}$

$(1.06)^{n}$ =2.8564

$(1.06)^{n}$ = $(1.06)^{18}$ (Approximately)

From both the sides we will get n=18.

Hence Bob has to own his land for 18 years if the price is increasing at the rate of 6% per year.

Learn more about compounding at brainly.com/question/2449900

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