Question

A few years ago. Sarah acquired a parcel of land valued at $16,500. Today, that same parcel of land has a value of $17.820. Find the percent increase in the property's

value. Round your answer to the nearest hundredth, if necessary.

Answer 1

0.08 is equal to 8%, the percent increase in the value of the property is 8%.

First, calculate the increase in the value of the property:

increase = 17820 - 16500

= 1,320

Next, calculate the percent increase by dividing the amount of the increase by the original value of the property and multiply by 100%:

percent increase = (1320 / 16500) * 100

percent increase = 0.08

Since 0.08 is equal to 8%, the percent increase in the value of the property is 8%.

Answer 2

8%

Explanation:

Use formula

`\text{Percent increase}=\frac{\text{New value - Old value}}{\text{Old value}}\cdot 100\%`

Old value = $16,500

New value = $17,820

Hence, the percent increase is

`(\$17,820-\$16,500)/(\$16,500)\cdot 100\%=(\$1,320)/(\$16,500)\cdot 100\%=(8)/(100)\cdot 100\%=8\%`