Question

A house on the market was valued at $309,000. 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? increase in value: $ Current house value: $

Answer 1

The increase in value is $27,810

The current house value is $336,810

Step-by-step explanation:

Given that;

A house on the market was valued at $309,000.

`P=\text{ \$309,000}`

Given that the value increased by 9%.

Let i represent the increase in value;

`\begin{gathered} i=9\text{\% of P} \\ i=(9)/(100)*\text{ \$309,000} \\ i=0.09*\text{ \$309,000} \\ i=\text{ \$}27,810 \end{gathered}`

The increase in value is $27,810

Let F represent the current house value.

`\begin{gathered} F=P+i \\ F=\text{ \$309,000}+\text{ \$27,810} \\ F=\text{ \$336,810} \end{gathered}`

The current house value is $336,810