house is bought for $350 000. In the first year of owning the house it increases in value by 22%.
a) What is the value of the house at the end of the 1st year?



To calculate the value of the house at the end of the first year after a 22% increase, you can use the formula:

\[
\text{New Value} = \text{Original Value} \times (1 + \text{Percentage Increase})
\]

In this case:
- Original Value = \$350,000
- Percentage Increase = 22% = 0.22

\[
\text{New Value} = 350,000 \times (1 + 0.22) = 350,000 \times 1.22 = 427,000
\]

Thus, the value of the house at the end of the first year is **\$427,000**.

Would you like more details or have any questions?

Here are 5 related questions to consider:
1. What would happen if the house increased by a different percentage in the second year?
2. How would you calculate the value if the house decreased in value by 10% in the second year?
3. What would be the impact of an increase followed by a decrease on the house's value over two years?
4. How does compound growth work over multiple years for property values?
5. What percentage increase is needed to reach a house value of $500,000 after one year?

**Tip:** Always convert percentage increases or decreases to their decimal form before calculations.

House is bought for $350,000. In the first year of owning the house, it increases in value by 22%. What is the value of the house at the end of the 1st year?

Learn how to calculate the value of a house bought for $350,000 after a 22% increase in the first year. This problem involves basic arithmetic and percentage calculations, perfect for students in Grades 6-8.

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