Actual and Relative Change
The value of a car dropped from to over the last year. Determine the
absolute and relative change in this sitation.
Absolute Change: This car’s value decreased by last year.
Round your answer to the nearest dollar.
Relative Change: This car’s value decreased by
Round your answer to the nearest tenth of a percent.
Question Help: Video Message instructor

Ask by Griffin Owen. in the United States

Mar 29,2025

Question

Actual and Relative Change
The value of a car dropped from to over the last year. Determine the
absolute and relative change in this sitation.
Absolute Change: This car’s value decreased by last year.
Round your answer to the nearest dollar.
Relative Change: This car’s value decreased by
Round your answer to the nearest tenth of a percent.
Question Help: Video Message instructor

Ask by Griffin Owen. in the United States

Mar 29,2025

UpStudy AI · Accepted Answer

**Step 1: Compute the Absolute Change**

The absolute change is given by the difference between the initial value and the final value:

$$
\text{Absolute Change} = \$35,\!000 - \$31,\!900 = \$3,\!100
$$

**Step 2: Compute the Relative Change**

The relative change is computed using the formula:

$$
\text{Relative Change} = \left(\frac{\text{Absolute Change}}{\text{Initial Value}}\right) \times 100
$$

Substitute the known values:

$$
\text{Relative Change} = \left(\frac{3100}{35000}\right) \times 100 \approx 8.8571\%
$$

Rounding to the nearest tenth of a percent:

$$
\text{Relative Change} \approx 8.9\%
$$

**Final Answers:**

- Absolute Change: The car's value decreased by $$\$3,\!100$$ last year.
- Relative Change: The car's value decreased by approximately $$8.9\%$$.
The car's value decreased by \$3,100 and by approximately 8.9%.

Upstudy AI Solution

Answer

Solution

Beyond the Answer

Related Questions

Latest Arithmetic Questions