Question

The median home price in a certain city was $218,600 last November. On the news you heard that the median home value had increased by 3% since that time. Based on this information, what is the median home price in the city right now?

Answer 1

First we need to find the 3% of $218,600

$218600\cdot\frac{3}{100}=6558$

In order to know the median home price in the city right now, we need to add $218,600 and $6558

$218600+6558=225158$

The median home price in the city right now is $225,158