Question

Your house had a value of $480,000 and increased in value by 3.5%. How much is your house worth now?

Answer 1

$496,800

Explanation:

Present cost = $480,000

%increase = 3.5%

Present price of the house = 480,000 + 3.5% of 480,000

= 480,000 + 0.035 * 480,000

= 480,000 + 16,800

= $496,800

Present price of the house = $496,800