What is the equation, in point-slope form, of the line that is parallel to the given line and passes through the point (−1, −1)?
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There is decrease of 35% in the price of silver in the past 6 months.
<u> Solution: </u>
Given that
Price of silver went from $26.40 a troy ounce down to $17.16 a troy ounce during past 6 months need to represent this decrease in percentage
Price of silver before 6 months = initial price = $26.40
Price of silver now = current price = $17.16
Difference in price in 6 months = 26.40 – 17.16 = $9.24
Hence there is decrease of 35% in the price of silver in the past 6 months.