Final answer:
To calculate the decreased value in dollars of a house after its value decreased by 18%, multiply the original value ($487,000) by 0.18 to get the decreased amount ($87,660). The current house value is then $487,000 minus $87,660, which equals $399,340.
Step-by-step explanation:
The question involves calculating the dollar amount by which a house's value has decreased after its market value fell by 18%. Given that the house was initially valued at $487,000, we need to find 18% of this value to determine the decrease.
Step-by-step Calculation:
Find 18% of $487,000 by multiplying the value of the house by the percentage decrease. Use the formula: Decrease in value = House value × (Percentage decrease / 100).
Calculate 18% of $487,000: $487,000 × 0.18 = $87,660.
The house's value decreased by $87,660. Consequently, the current house value now is the original value minus the decrease, which is $487,000 × $87,660 = $399,340.