Question
During a recent housing slump, the median price of homes decreased in the United States. If James bought his house for $\$ 360,000$ and the value 1 year later was $\$ 253,800,$ compute the percent decrease in the value of the house.
Step 1
This can be done by subtracting the updated value from the initial value. So, we have $360,000 - $253,800 = $106,200$. Show more…
Show all steps
Your feedback will help us improve your experience
Landon Basham and 57 other Algebra educators are ready to help you.
Ask a new question
Labs
Want to see this concept in action?
Explore this concept interactively to see how it behaves as you change inputs.
Key Concepts
Recommended Videos
In 1 month, the median home price in the West fell from $\$ 203,400$ to $\$ 192,300$. Find the percent decrease. (Round to the nearest tenth of a percent.)
Math Models
Solve Percent Applications
In one month, the median home price in the West fell from $\$ 203,400$ to $\$ 192,300$ . Find the percent decrease. (Round to the nearest tenth of a percent.)
Percents
Solve General Applications of Percent
During the last year the value of your house decreased by 10% If the value of your house is $265,000$ today, what was the value of your house last year? Round your answer to the nearest cent, if necessary . Please show work.
Transcript
18,000,000+
Students on Numerade
Trusted by students at 8,000+ universities
Watch the video solution with this free unlock.
EMAIL
PASSWORD