Heather is selling her house. She initially bought it for $575000$575000. The real estate agent estimates her house value has gone up 15%15% since she bought it. An offer is made on the house for 10%10% less than the real estate agent's estimate. Determine the price of the offer. Remember to include the $ sign in your answer.
Question
Heather is selling her house. She initially bought it for 575000. The real estate agent estimates her house value has gone up 15%15% since she bought it. An offer is made on the house for 10%10% less than the real estate agent's estimate. Determine the price of the offer. Remember to include the $ sign in your answer.
Solution
Step 1: Calculate the increase in the house value.
The real estate agent estimates that the house value has increased by 15%. To find out how much this is, we multiply the original price of the house by 15/100:
86,250
Step 2: Add the increase to the original price.
Now we add this increase to the original price of the house to get the estimated value:
86,250 = $661,250
Step 3: Calculate the offer.
The offer made on the house is 10% less than the real estate agent's estimate. To find out how much this is, we multiply the estimated value by 10/100:
66,125
Step 4: Subtract the offer from the estimated value.
Finally, we subtract this from the estimated value to get the price of the offer:
66,125 = $595,125
So, the price of the offer is $595,125.
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