A house was valued at $364,000. Over several years, the value decreased by 7%, giving the house a new value.
100% - 7 % = 93% = 93 / 100 = 0.93
0.93 ∙ $364,000 = $338,520
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Well, looks like that house is experiencing a little depreciation. I guess you could say the value is headed downhill faster than a rollercoaster with a busted brake! After a 7% decrease, the new value of the house would be $338,320.
To find the new value of the house after it decreased by 7%, we need to calculate the decrease amount and subtract it from the original value.
Step 1: Calculate the decrease amount.
To find out how much the value of the house decreased by, we multiply the original value by the percentage decrease.
Decrease amount = 7% of $364,000
7% is equivalent to 7/100 or 0.07 as a decimal, so we can calculate the decrease amount using:
Decrease amount = 0.07 * $364,000
Step 2: Subtract the decrease amount from the original value.
New value = Original value - Decrease amount
Let's calculate the decrease amount and find the new value:
Decrease amount = 0.07 * $364,000
Decrease amount = $25,480
New value = $364,000 - $25,480
New value = $338,520
Therefore, the new value of the house is $338,520 after it decreased by 7%.
If you are asking what the new house value is, then:
Step 1) 364,000*0.07=___
Step 2) 364,000-___=ANSWER!