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HELP: The housing market in Dallas, Texas, experienced a 9.8% increase in the past year. If the median home price was $96,812 one year ago, what is the current median home price? Round your answer to the nearest dollar.

Respuesta :

Brittxny
1st step: find what is 9.8% of $96,812

9.8% = .098
(.098)(96,812)
= 9,487.576

2nd step: Add 96,812 and the result of the last step.

96,812 + 9,487.576
= 106,299.576

This rounded to the nearest dollar then equals 106,300 dollars

Current rate of home is $106,300

Given that;

Growth rate = 9.8%

One year old price = $96,812

Find:

Current rate of home

Computation:

Current rate of home = 96,812[1 + 9.8%]

Current rate of home = 96,812[1.098]

Current rate of home = 106,299.576

Current rate of home = $106,300

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