Question

A house on the market was valued at $295,000. After several years, the value increased by 8%. By how much did the house's value increase in dollars? What is the current value of the house?

Answer 1

Answer: $23,600. ; $318,600

Step-by-step explanation:

From the question, we are informed that a house on the market was valued at $295,000 and after several years, the value increased by 8%.

The value of the increase will be 8% of $295,000. This can be mathematically written as:

= 8% of $295,000

= 8/100 × $295,000

= 0.08 × $295,000

= $23,600

The current value of the house will be:

= $295,000 + $23,600

= $318,600