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 = [tex]\frac{19}{100} (263,000) = 0.19(263,000)=49,970.[/tex]
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 [tex]=263,000 + 49,970 = 312,970.[/tex]
So the current value of the house is $312,970.
