Question

Find both the absolute change and the relative change (as a percentage) in the following cases. Total Student Loan Debt In The United States Increased From $1.06 Trillion In 2014 To $1.57 Trillion In 2020.

Answer 1

To find the absolute change and the relative change (as a percentage) in the total student loan debt in the United States from 2014 to 2020, you can use the following calculations:

Absolute Change:

Absolute Change = Final Value (2020) - Initial Value (2014)

Absolute Change = $1.57 trillion - $1.06 trillion

Absolute Change = $0.51 trillion

Relative Change (as a percentage):

Relative Change = (Absolute Change / Initial Value) * 100%

Relative Change = ($0.51 trillion / $1.06 trillion) * 100%

Relative Change ≈ 48.11%

So, the absolute change in total student loan debt is $0.51 trillion, and the relative change (as a percentage) is approximately 48.11%.

Explanation:

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