During a recent housing slump, the median price of homes decreased in the united states. if james bought his house for $360,000 and the value 1 year later was $253,800, compute the percent decrease in the value of the house. if necessary, round to the nearest tenth of a percent.

Purchase price of the house = $360,000

Price of the house after 1 year = $253,800

Percent decrease in the value of the house = * 100

⇒ Percent decrease in the value of the house = * 100

⇒ Percent decrease in the value of the house = * 100

⇒ Percent decrease in the value of the house = 29.5%

Hence, the price of the house decreased by 29.5% over an year.

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