Question: Question 1: What is the probability that a property worth at least $150,000 in year 1 ends up worth $200,000 or more in year 5?

Question 1: What is the probability that a property worth at least $150,000 in year 1 ends up worth $200,000 or more in year 5? (Hint: Think about numerator and denominator to answer this question. How many properties are there overall? How many properties start out at $150,000+ and then end up at $200,000+ in year 5?)

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