SOLUTION: Home values in a town have declined 27 % per year for each of the past four years. What was the total percentage decrease in home values during the four-year period?
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Question 1206356: Home values in a town have declined 27 % per year for each of the past four years. What was the total percentage decrease in home values during the four-year period? Found 2 solutions by josgarithmetic, ikleyn:Answer by josgarithmetic(39631) (Show Source):
You can put this solution on YOUR website! .
Home values in a town have declined 27 % per year for each of the past four years.
What was the total percentage decrease in home values during the four-year period?
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The solution in the post by @josgarithmetic, giving the answer " PerCent Decrease, "
is INCORRECT and TOTALLY WRONG.
I came to bring you a correct solution and a correct answer. See below
Home values at the beginning 1
Home values in one year after (1-0.27)
Home values in two years after
Home values in three years after
Home values in four years after = 0.2840, or 28.4% (rounded).
The total percentage decrease in 4 years is 100% - 28.4% = 71.6%, rounded.
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