Property Values in the Suburbs Have Been Appreciating About 11

question 288

Multiple Choice

Property values in the suburbs have been appreciating about 11% annually.If this trend continues, what will a $180,000 home be worth in four years? Give the result to the nearest dollar.

• A)$549,927
• B)$273,253
• C)$276,674
• D)$274,487
• E)$274,253

---

Definitions:

Theory of Planned Behavior

A theory that predicts an individual's intention to engage in a behavior at a specific time and place. It considers attitudes, subjective norms, and perceived behavioral control.

Subjective Norms

The perceived social pressure to perform or not perform a particular behavior, influenced by the beliefs about what important others think one should do.

Predictors

Factors that can be used to forecast the likelihood of a future event or outcome, often based on statistical analysis.

Self-Efficacy Theory

A theory that focuses on the belief in one's capabilities to organize and execute the courses of action required to manage prospective situations.