House was valued at $291,000. Over several years, the value decreased by 7%, 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.
New value = x Old value
(b) Use your answer in part (a) to determine the new value.
New value: s
(a) The new value can be written as 0.93 times the old value.
New value = 0.93 x Old value
(b) To determine the new value, we need to substitute the old value into the equation:
New value = 0.93 x $291,000 = $270,630
(a) The new value can be written in terms of the old value as:
New value = (1 - 0.07) * Old value
New value = 0.93 * Old value
(b) Using the expression from part (a), we can determine the new value by substituting the given old value:
New value: s = 0.93 * 291,000 = $270,330