The next model of a sports car will cost 3.5% less than the current model. The current model costs $53,000. How much will the price decrease in dollars? What will be the price of the next model?

Question

Decrease in price:

Price of next model:

Answer 1

To calculate the decrease in price and the price of the next model, you can follow these steps:

1. Calculate the decrease in price:

   \[ \text{Decrease in price} = \text{Current price} \times \text{Percentage decrease} \] \[ \text{Decrease in price} = 53,000 \times 0.035 \] \[ \text{Decrease in price} = 1,855 \]

2. Calculate the price of the next model:

   \[ \text{Price of next model} = \text{Current price} - \text{Decrease in price} \] \[ \text{Price of next model} = 53,000 - 1,855 \] \[ \text{Price of next model} = 51,145 \]

So, the decrease in price is $1,855 and the price of the next model is $51,145.