A house on the market was valued at $431,000. After several years, the value decreased by 18%. 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

The decrease in value of the house can be found by taking 18% of the initial value.

18% of $431,000 = $77,580

Therefore, the value of the house decreased by $77,580.

To find the current value of the house, we subtract the decrease in value from the initial value.

$431,000 - $77,580 = $353,420

Therefore, the current value of the house is $353,420.