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.
Well, this is how you approach this problem. First, you move the decimal over in the percentage twice to the left and get 0.098 to get the additional amount increase. i added that decimal to 1, since we are multiplying it by itself and the percentage to find this years median home price. so, $96,812 times 1.098 will get you about $106, 300.
