Answer: $23,600. ; $318,600
Step-by-step explanation:
From the question, we are informed that a house on the market was valued at $295,000 and after several years, the value increased by 8%.
The value of the increase will be 8% of $295,000. This can be mathematically written as:
= 8% of $295,000
= 8/100 × $295,000
= 0.08 × $295,000
= $23,600
The current value of the house will be:
= $295,000 + $23,600
= $318,600
