Question

A house was valued at $299,000 . Over several years, the value decreased by, 9% giving the house a new value.

(a) Fill in the blank to write the new value in terms of the old value.
Write your answer as a decimal.

(b) Use your answer in part (a) to determine the new value.

Answer 1

• Answer:

A) - The NEW VALUE in terms of the old value is 0.91 times the old value.

B) - The NEW VALUE of the HOUSE is: 299,000 * 0.91 = $272,090

• Explanation:

• Make A Plan:

A) - Calculate the Percentage of the Value Remaining After the Decrease

B) - Calculate the NEW VALUE of the house

• SOLVE THE PROBLEM:

A) - The PERCENTAGE of the VALUE REMAINING AFTER the DECREASE

100% - 9% = 91%

• As A DECIMAL:

0.91

B) - Calculate the NEW VALUE of the house:

NEW VALUE = OLD VALUE * REMAINING PERCENTAGE

NEW VALUE = 299,000 * 0.91

• Draw the conclusion:

A) - The NEW VALUE in terms of the old value is 0.91 times the old value.

B) - The NEW VALUE of the HOUSE is: 299,000 * 0.91 = $272,090

I hope it helps!