A house on the market was valued at $354,000. After several years, the value decreased by 16% . By how much did the house's value decrease in dollars? What is the current value of the house?

Question

Decrease in value:
Current house value:

Answer 1

To find the decrease in the house's value:

1. Calculate 16% of the original value ($354,000): \[ \text{Decrease in value} = 0.16 \times 354,000 = 56,640 \]

2. Then, subtract the decrease from the original value to find the current value: \[ \text{Current house value} = 354,000 - 56,640 = 297,360 \]

So, the results are:

• Decrease in value: $56,640
• Current house value: $297,360