The following information is for solving Questions

Morgan purchased an investment property five years ago for $450,000. Other similar properties have increased in value an average of 3.5 percent per year over this five-year period. Assume annual compounding.

Question 35

What would have been the estimated price of this property 1 year after Morgan purchased it?

Question 35 options:

	$510,500.00
	$472,238.43
	$465,750.00
	$462,201.79
	None of the Above

Question 36

What would have been the estimated price of this property 2 years after Morgan purchased it?

Question 36 options:

	$491,480.00
	$482,051.25
	$494,966.14
	$478,367.50
	None of the Above

Question 37

What would have been the estimated price of this property 5 years after Morgan purchased it?

Question 37 options:

	$534,458.84
	$556,305.89
	$573,854.58
	$542,700.03
	None of the Above