House was valued at $291,000. Over several years, the value decreased by 7%, giving the house a new value.

Question

(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

Answer 1

(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