A $300,000 property appreciated in value by 3%. What is its new value?

To determine the new value of a property after it has appreciated, you first calculate the amount of appreciation and then add that amount to the original price of the property.

For a property valued at $300,000, a 3% increase in value is calculated as follows:

1. Convert the percentage to a decimal by dividing by 100, which gives you 0.03.

2. Calculate the amount of appreciation by multiplying the original value by the decimal:

$300,000 × 0.03 = $9,000.

3. Add the appreciation amount to the original value to find the new value:

$300,000 + $9,000 = $309,000.

This method clearly shows that the new value of the property, after appreciating by 3%, is $309,000. This aligns with the choice indicating $309,000 as the new value.