Final answer:
The current value of a house is determined by its market price after any appreciation since its purchase. Using given examples, Freda's house currently valued at $250,000 and Ben's at $160,000, demonstrates how to calculate current values based on original purchase prices and market changes.
Step-by-step explanation:
The question involves finding the current value of a house based on its original value and the amount it has appreciated since the purchase. For example, if Freda bought a house for $150,000 and it's now valued at $250,000, the current value of the house is $250,000. Similarly, if Ben bought a house for $100,000, put a 20% down payment, borrowed the rest, and the house's value later increased to $160,000 while he paid off $20,000 of the bank loan, the current value of his house is $160,000.