Question

A house on the market was valued at $262,000. After several years, the value increased by 9%. By how much did the house's value increase in dollars? What is the current value of the house?

Answer 1

Value increases by 23,580
Current value of the house is 285,580

To find the increase in value you multiply the value of the house at the start and multiply it by 0.09 to represent the 9% since it is 9/100%

To find the current value of the house you add the increased value to the original price of the house

Answer 2

The house increases by $23,580 and he current value of the house is $285,580

Explanation:

A house on the market was valued at $262,000. After several years, the value increased by 9%.

The first part of the question is to find by how much the house's value increase in dollars, to calculate this, we will simply find;

9% of $262,000

=
`(9)/(100)` × $262 000

=
`(2358000)/(100)`

=$23580

Therefore, the house's value increase by $23580

The second part of the question is to fin the current value of the house. Hence;

Current value of the house = $262,000 + $23580=$285,589

Therefore the current value of the house is $285,589