Question

A house on the market was valued at $245,000. After several years, the value increased by 9%. By how much did the house's value increase in dollars? What isthe current value of the house? Increase in value:Current house value:

Answer 1

We are given that a house had a value of $245000 and its value was increased by 9%. To determine how much is this value increase in dollars we need to multiply the value of the house by 9/100. We get this:

$245000\times\frac{9}{100}=22050$

Therefore, the increase in dollars is $22050. Now, to determine the current value we need to add the increase to the previous value, we get:

$245000+22050=267050$

Therefore, the current value of the house is $267050.