Question

A house on the market was valued at $336,000. After several years, the value decreased by 8%. By how much did the house's value decrease in dollars? What is the current value of the house?

Answer 1

$309,120

Explanation:

To find the amount by which the house's value decreased, we need to calculate 8% of its original value:

8% of $336,000 = (8/100) x $336,000 = $26,880

Therefore, the house's value decreased by $26,880.

To find the current value of the house, we need to subtract the amount of the decrease from the original value:

Current value = Original value - Decrease

Current value = $336,000 - $26,880

Current value = $309,120

Therefore, the current value of the house is $309,120.