Property in Suburbs Closer to the City Is Appreciating About

question 63

Multiple Choice

Property in suburbs closer to the city is appreciating about 7% annually.If this trend continues, what will a $33,000 one-acre lot be worth in five years? Give the result to the nearest dollar.

• A)$46,284
• B)$50,605
• C)$47,518
• D)$46,901
• E)$47,496

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Definitions:

Tax Burden

The measure of the financial impact of taxes on an individual or entity, often expressed as a percentage of income or revenue.

Sellers

Individuals or entities that offer goods or services for sale to buyers in the marketplace.

Unit

In economics, a unit can refer to a single item or product which can be quantified and measured.

Tax Per Unit

A specific charge levied on each unit of a product or service, often used by governments to regulate consumption or raise revenue.