Question

The fair market rental rate for Bloomington is $747 and for Kokomo is $654. The relative change from Bloomington to Kokomo is _____%.

Answer 1

Answer:

The relative change from Bloomington to Kokomo is  -12.449...%

Step-by-step explanation:

The fair market rental rate for Bloomington is $747 and for Kokomo is $654.

So, the amount of relative change from Bloomington to Kokomo will be:  $(\ 654-\ 747)=-93$ dollar.

Formula for percentage of relative change = (Amount of relative change/ Initial amount)× 100%

So, the percentage will be:  $\frac{-93}{747}\times 100\% =-12.449.... \%$