Question

a house was valued at $326,000. over several years, the value increased by 18%, 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 = \\(\square\\) × old value
(b) use your answer in part (a) to determine the new value.
new value: $\square

Explanation:

Step1: Find decimal for 18% increase

An 18% increase means the new value is 100% + 18% = 118% of the old value. Convert 118% to a decimal:
$\frac{118}{100} = 1.18$

Step2: Calculate new house value

Multiply the decimal factor by the old value:
$\$326,000 \times 1.18$

Answer:

(a) $1.18$
(b) $\$384,680$