math0

Appraiser Leung is working on an appraisal for 44 rabble road. Leung is trying to determine the price trend in the neighbourhood in order to make the necessary time adjustments to comparable sold properties. He has come across a property in the area that sold 7 monthss ago for $269, 500.00 and resold one month ago for $291,200.00. based on these two sales, what is the monthly percentage that Leung would use when calculating the time adjustment (rounded to 2 decimal places) ?

 

(a) 1.15%

 

(b) -1.06%

 

(c) -1.24%

 

(d) 1.34%

 

explain with all calculations every step of the way how you came up with the answer.