Question

A house on the market was valued at $263,000. After several years, the value increased by 19% By how much did the house's vaule increase in dollars? What is the current value of the house

Answer 1

The house's value increased by $49,970. The current value of the house is $312,970.

Step-by-step explanation:

Step 1:

The house was valued at $263,000 and this value increased by 19%. So we need to calculate how much 19% of $263,000 is.

To do so we convert the 19% into a fraction by dividing it by 100 and multiplying it with the house's value.

19% of $263,000 = $\frac{19}{100} (263,000) = 0.19(263,000)=49,970.$

So the value of the house increased by $49,970 in several years.

Step 2:

To calculate the current value, we add the increased value to the original value.

The current value = the past value + The increased value,

The current value $=263,000 + 49,970 = 312,970.$

So the current value of the house is $312,970.