QuestionFind the absolute and relative change in a car's value from \$34,400 to \$31,900. Round answers to the nearest dollar and tenth percent.

Studdy Solution

STEP 1

Assumptions1. The initial value of the car is $34,400. The final value of the car is$ 31,900

STEP 2

First, we need to find the absolute change in the value of the car. Absolute change is calculated as the difference between the final value and the initial value.
$Absolute\, Change = Final\, Value - Initial\, Value$

STEP 3

Now, plug in the given values for the initial and final values to calculate the absolute change.
$Absolute\, Change = \$31,900 - \$34,400$

STEP 4

Calculate the absolute change.
$Absolute\, Change = \$31,900 - \$34,400 = -\$2,500$ The negative sign indicates a decrease in value. Therefore, the car's value decreased by $2,500 last year.

STEP 5

Next, we need to find the relative change in the value of the car. Relative change is calculated as the absolute change divided by the initial value, and is usually expressed as a percentage.
$Relative\, Change = \frac{Absolute\, Change}{Initial\, Value} \times100\%$

STEP 6

Now, plug in the values for the absolute change and the initial value to calculate the relative change.
$Relative\, Change = \frac{-\$2,500}{\$34,400} \times100\%$

STEP 7

Calculate the relative change.
$Relative\, Change = \frac{-\$2,500}{\$34,400} \times100\% = -7.267\%$ Again, the negative sign indicates a decrease in value. Therefore, the car's value decreased by approximately7.3% last year when rounded to the nearest tenth of a percent.

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QuestionFind the absolute and relative change in a car's value from \$34,400 to \$31,900. Round answers to the nearest dollar and tenth percent.

Studdy Solution

STEP 1

Assumptions1. The initial value of the car is $34,400. The final value of the car is$ 31,900

STEP 2

First, we need to find the absolute change in the value of the car. Absolute change is calculated as the difference between the final value and the initial value.
$Absolute\, Change = Final\, Value - Initial\, Value$

STEP 3

Now, plug in the given values for the initial and final values to calculate the absolute change.
$Absolute\, Change = \$31,900 - \$34,400$

STEP 4

Calculate the absolute change.
$Absolute\, Change = \$31,900 - \$34,400 = -\$2,500$ The negative sign indicates a decrease in value. Therefore, the car's value decreased by $2,500 last year.

STEP 5

Next, we need to find the relative change in the value of the car. Relative change is calculated as the absolute change divided by the initial value, and is usually expressed as a percentage.
$Relative\, Change = \frac{Absolute\, Change}{Initial\, Value} \times100\%$

STEP 6

Now, plug in the values for the absolute change and the initial value to calculate the relative change.
$Relative\, Change = \frac{-\$2,500}{\$34,400} \times100\%$

STEP 7

Calculate the relative change.
$Relative\, Change = \frac{-\$2,500}{\$34,400} \times100\% = -7.267\%$ Again, the negative sign indicates a decrease in value. Therefore, the car's value decreased by approximately7.3% last year when rounded to the nearest tenth of a percent.

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QuestionFind the absolute and relative change in a car's value from \$34,400 to \$31,900. Round answers to the nearest dollar and tenth percent.

Studdy Solution

STEP 1

Assumptions1. The initial value of the car is 34,400.Thefinalvalueofthecaris34,400. The final value of the car is 34,400.Thefinalvalueofthecaris31,900

STEP 2

First, we need to find the absolute change in the value of the car. Absolute change is calculated as the difference between the final value and the initial value.Absolute Change=Final Value−Initial ValueAbsolute\, Change = Final\, Value - Initial\, ValueAbsoluteChange=FinalValue−InitialValue

STEP 3

Now, plug in the given values for the initial and final values to calculate the absolute change.Absolute Change=$31,900−$34,400Absolute\, Change = \$31,900 - \$34,400AbsoluteChange=$31,900−$34,400

STEP 4

Calculate the absolute change.Absolute Change=$31,900−$34,400=−$2,500Absolute\, Change = \$31,900 - \$34,400 = -\$2,500AbsoluteChange=$31,900−$34,400=−$2,500The negative sign indicates a decrease in value. Therefore, the car's value decreased by $2,500 last year.

STEP 5

STEP 6

Now, plug in the values for the absolute change and the initial value to calculate the relative change.Relative Change=−$2,500$34,400×100%Relative\, Change = \frac{-\$2,500}{\$34,400} \times100\%RelativeChange=$34,400−$2,500​×100%

STEP 7

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Download Studdy AI Tutor now. Learn with ease and get all help you need to be successful at school.

Assumptions1. The initial value of the car is $34,400. The final value of the car is$ 31,900

First, we need to find the absolute change in the value of the car. Absolute change is calculated as the difference between the final value and the initial value.
$Absolute\, Change = Final\, Value - Initial\, Value$

Now, plug in the given values for the initial and final values to calculate the absolute change.
$Absolute\, Change = \$31,900 - \$34,400$

Calculate the absolute change.
$Absolute\, Change = \$31,900 - \$34,400 = -\$2,500$ The negative sign indicates a decrease in value. Therefore, the car's value decreased by $2,500 last year.

Now, plug in the values for the absolute change and the initial value to calculate the relative change.
$Relative\, Change = \frac{-\$2,500}{\$34,400} \times100\%$