A house on the market was valued at $482,000. After several years, the value increased by 18%. By how much did the house's value increase in dollars? What is the current value of the house?Increase in value: $Current house value: $
Question
A house on the market was valued at Current house value: $
Solution
To find out by how much the house's value increased in dollars, we need to calculate 18% of the original value.
Step 1: Convert the percentage increase to a decimal. 18% = 0.18
Step 2: Multiply the original value of the house by the decimal. 86,760
So, the house's value increased by $86,760.
To find the current value of the house, we need to add the increase in value to the original value.
Step 3: Add the increase in value to the original value. 86,760 = $568,760
So, the current value of the house is $568,760.
Increase in value: 568,760
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