QuestionA car's value fell from \$26,200 to \$24,400. Find the absolute and relative change. Round to the nearest dollar and tenth of a percent.

Studdy Solution

STEP 1

Assumptions1. The initial value of the car is $26,200. The final value of the car is$ 24,4003. The absolute change is calculated as the difference between the final and initial values4. The relative change is calculated as the absolute change divided by the initial value, expressed as a percentage

STEP 2

First, we need to find the absolute change in the car's value. We can do this by subtracting the final value from the initial value.
$Absolute\, Change = Initial\, Value - Final\, Value$

STEP 3

Now, plug in the given values for the initial value and final value to calculate the absolute change.
$Absolute\, Change = \$26,200 - \$24,400$

STEP 4

Calculate the absolute change.
$Absolute\, Change = \$26,200 - \$24,400 = \$1,800$

STEP 5

Now that we have the absolute change, we can find the relative change. This is calculated by dividing the absolute change by the initial value, and then multiplying by100 to express it as a percentage.
$Relative\, Change = \left(\frac{Absolute\, Change}{Initial\, Value}\right) \times100\%$

STEP 6

Plug in the values for the absolute change and the initial value to calculate the relative change.
$Relative\, Change = \left(\frac{\$1,800}{\$26,200}\right) \times100\%$

STEP 7

Calculate the relative change.
$Relative\, Change = \left(\frac{\$1,800}{\$26,200}\right) \times100\% \approx6.87\%$ The car's value decreased by $1,800 last year, which is a relative decrease of approximately6.87%.

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QuestionA car's value fell from \$26,200 to \$24,400. Find the absolute and relative change. Round to the nearest dollar and tenth of a percent.

Studdy Solution

STEP 1

Assumptions1. The initial value of the car is $26,200. The final value of the car is$ 24,4003. The absolute change is calculated as the difference between the final and initial values4. The relative change is calculated as the absolute change divided by the initial value, expressed as a percentage

STEP 2

First, we need to find the absolute change in the car's value. We can do this by subtracting the final value from the initial value.
$Absolute\, Change = Initial\, Value - Final\, Value$

STEP 3

Now, plug in the given values for the initial value and final value to calculate the absolute change.
$Absolute\, Change = \$26,200 - \$24,400$

STEP 4

Calculate the absolute change.
$Absolute\, Change = \$26,200 - \$24,400 = \$1,800$

STEP 5

Now that we have the absolute change, we can find the relative change. This is calculated by dividing the absolute change by the initial value, and then multiplying by100 to express it as a percentage.
$Relative\, Change = \left(\frac{Absolute\, Change}{Initial\, Value}\right) \times100\%$

STEP 6

Plug in the values for the absolute change and the initial value to calculate the relative change.
$Relative\, Change = \left(\frac{\$1,800}{\$26,200}\right) \times100\%$

STEP 7

Calculate the relative change.
$Relative\, Change = \left(\frac{\$1,800}{\$26,200}\right) \times100\% \approx6.87\%$ The car's value decreased by $1,800 last year, which is a relative decrease of approximately6.87%.

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QuestionA car's value fell from \$26,200 to \$24,400. Find the absolute and relative change. Round to the nearest dollar and tenth of a percent.

Studdy Solution

STEP 1

STEP 2

First, we need to find the absolute change in the car's value. We can do this by subtracting the final value from the initial value.Absolute Change=Initial Value−Final ValueAbsolute\, Change = Initial\, Value - Final\, ValueAbsoluteChange=InitialValue−FinalValue

STEP 3

Now, plug in the given values for the initial value and final value to calculate the absolute change.Absolute Change=$26,200−$24,400Absolute\, Change = \$26,200 - \$24,400AbsoluteChange=$26,200−$24,400

STEP 4

Calculate the absolute change.Absolute Change=$26,200−$24,400=$1,800Absolute\, Change = \$26,200 - \$24,400 = \$1,800AbsoluteChange=$26,200−$24,400=$1,800

STEP 5

STEP 6

Plug in the values for the absolute change and the initial value to calculate the relative change.Relative Change=($1,800$26,200)×100%Relative\, Change = \left(\frac{\$1,800}{\$26,200}\right) \times100\%RelativeChange=($26,200$1,800​)×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.

First, we need to find the absolute change in the car's value. We can do this by subtracting the final value from the initial value.
$Absolute\, Change = Initial\, Value - Final\, Value$

Now, plug in the given values for the initial value and final value to calculate the absolute change.
$Absolute\, Change = \$26,200 - \$24,400$

Calculate the absolute change.
$Absolute\, Change = \$26,200 - \$24,400 = \$1,800$

Plug in the values for the absolute change and the initial value to calculate the relative change.
$Relative\, Change = \left(\frac{\$1,800}{\$26,200}\right) \times100\%$