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Real Estate – Monthly Price Reduction
publish date: 2026/05/07 20:14:21.775830 UTC
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Over the course of a year, a homeowner reduced the price of his house by an equal amount each month because it was not selling. By the end of the year, the price was $11,400 less than at the beginning of the year.
By how much was the price of the house reduced each month? Use a signed number.
Correct Answer
-$950
Explanation
The total drop expressed as a signed number is \(-\$11{,}400\). Dividing equally over 12 months:
\[ -11{,}400 \div 12 = -950 \]
Unlike signs → negative. The price was reduced by 950 each month. Check: a reduction of 1,000/month would drop 12,000 in a year, so 950/month dropping 11,400 is reasonable. ✓
Reference
Mathematics for college students