Question

A house was valued at $329,000. Over several years, the value increased by 9%, giving the house a new value. (a) Fill in the blank to write the new value in terms of the old value. Write your answer as a decimal. New value = ___ × Old value (b) Use your answer in part (a) to determine the new value. New value: $___

Answer 1

Let

x -----> old value

Part a

we have that

100%+9%=109%=109/100=1.09

so

New value=1.09x

or

New value=1.09(old value)

Part b

x=$329,000

The new value is

new value=1.09*x

new value=1.09*329,000

new value=$358,610