Question

The cost of an iPhone 8 at the end of 2017 was $699. At the end of 2020, the same iPhone 8 could be bought for $349.

Find the percent change in the cost of the iPhone 8 over that time period.

Answer 1

The percent change in the cost of the iPhone 8 over the time period is approximately -50.07%.

Step-by-step explanation:

To find the percent change in the cost of the iPhone 8 over the time period, we can use the formula:

Percent Change = (New Price - Old Price) / Old Price * 100

Old Price = $699

New Price = $349

Substituting the values into the formula, we get:

Percent Change = (349 - 699) / 699 * 100

= -50.07%

Therefore, the percent change in the cost of the iPhone 8 over that time period is approximately -50.07%.