Question

A house on the market was valued at $352,000. After several years, the value decrease by 8%. By how much did the house’s value decrease in dollars? What is the current value of the house?

Answer 1

`\begin{gathered} C=\text{ \$}352,000 \\ i=8\text{ \%=0.08} \\ decrea\sin g\text{ =( \$}352,000\text{)(0.08)} \\ decrea\sin g\text{ = \$}28,160 \\ \text{The house's value }decreased\text{ \$}28,160 \\ Current\text{ value= \$}352,000-\text{\$}28,160 \\ Current\text{ value= \$}323,840 \\ \text{The current value is \$}323,840 \end{gathered}`