Question

A house is valued at 213,000.After several years,the value increased by 8%.How much did the house value increase in dollars?.What is the current value of the house?

Answer 1

Answer:

The house value increase by $17,040 in dollar terms

The current value of the house $ 230,040

Step-by-step explanation:

The increase in value of the house can be determined as the difference between the value of the house now after 8% increase in value and the earlier value of $213,000

new value=earlier value *(1+% increase in value)

% increase in value is 8%

new value=$213,000*(1+8%)

                 =$213,000*1.08=$230,040.00  

increase in value= $230,040-$213,000=$17,040

The increase in value of the house of 8% translated into a dollar value of $17,040