If a property has recently sold for $216,000 and adjustments allow for an 8% increase time adjustment, what is the adjusted price?

To find the adjusted price of the property after applying the 8% time adjustment, you begin by calculating the amount of the adjustment based on the property's recent sale price of $216,000.

First, calculate 8% of $216,000, which involves multiplying the sale price by the percentage increase:

[

8% \text{ of } 216,000 = 0.08 \times 216,000 = 17,280

]

Next, add this adjustment amount to the original sale price to determine the adjusted price:

[

216,000 + 17,280 = 233,280

]

To clarify the process, subtracting the adjustment amount typically occurs when there is a decrease, but since this scenario focuses on an increase, we proceed with the addition.

The given answer represents a miscalculation or an error in applying the 8% increase. The correct adjusted price reflects the understanding that applying an increase results in the new price exceeding the original sale price rather than showing a decrease. The choice labeled as $210,600 appears to be the result of a misunderstanding in adjusting or interpreting the adjustment as a decrease instead of an increase. The correct determination of the adjusted price, given the context