The value of a house has grown from $290,000 at the beginning of last year to $315,500 now. Find the change and relative change in this value. Write the relative change as both a decimal and a percentage. Part: 0/2 Part 1 of 2 The change in price is $ 5
The value of a house has grown from $290,000 at the beginning of last year to $315,500 now. Find the change and relative change in this value. Write the relative change as both a decimal and a percentage. Part: 0/2 Part 1 of 2 The change in price is $ 5
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
Related questions
Question
![The value of a house has grown from $290,000 at the beginning of last year to $315,500 now. Find the change and
relative change in this value. Write the relative change as both a decimal and a percentage.
Part: 0 / 2
Part 1 of 2
The change in price is $.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa0e66dc0-33a7-486a-ab2a-7a4deeb92994%2F505d9b6d-5616-477a-8a6b-f78c29bf2ed8%2Fzsv0nmv_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The value of a house has grown from $290,000 at the beginning of last year to $315,500 now. Find the change and
relative change in this value. Write the relative change as both a decimal and a percentage.
Part: 0 / 2
Part 1 of 2
The change in price is $.
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
Step 1
What is Change and Relative Change in Value:
When comparing two values, the relative change formula determines the relative difference or change while accounting for the "sizes" of the objects being compared. The comparison is a unitless number that is stated as a ratio. The absolute change's magnitude compared to the reference value is expressed as a fraction known as the relative change. These ratios can be stated as percentages by multiplying them by 100, which changes the terminology.
Given:
It is given that the value of a house has grown from $290,000 to $315,500.
To Determine:
We determine the change in value and the relative change in value.
Step by step
Solved in 3 steps
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