Question

A house was valued at $383,000. Over several years, the value increased by 9%, giving the house a new value. (a) Fill in the blank to write the new value in terms of the old value. Write your answer as a decimal. New=value×Oldvalue (b) Use your answer in part (a) to determine the new value. Newvalue:$

Answer 1

The house value was $383000.

The rate of increase is 9 %

Theerefore the new value is,

`383000+(9)/(100)*383000=383000+34470=417470`