The average price of used homes went from $108,900 to $127,200 in one year. What is the percent of the increase?

Answer 1

To find the percent increase, we first need to calculate the difference between the two prices:

$127,200 - $108,900 = $18,300

Next, we need to calculate the percent increase by dividing the difference by the original price and multiplying by 100:

($18,300 / $108,900) * 100 ≈ 16.82%

Therefore, the percent increase is approximately 16.82%.