Question

A house on the market was valued at 432,000. After several years, the value decreased by 9%. By how much did the house's value decrease in dollars? What is the current value of the house?

Answer 1

$393,120

Explanation:

To find the decrease in the house's value in dollars, we need to calculate 9% of the initial value:

Decrease in value = (Initial value) * (Percentage decrease) = $432,000 * 9%

Converting the percentage to a decimal:

Decrease in value = $432,000 * 0.09 = $38,880

The house's value decreased by $38,880.

Now, to find the current value of the house, we need to subtract the decrease in value from the initial value:

Current value = Initial value - Decrease in value = $432,000 - $38,880 = $393,120

The current value of the house is $393,120.

Hope this helps!