A professor's checking account balance a year ago was $1470. Currently, it is $1040. Calculate the relative percentage change to the nearest percentage point.
A) −41%
B) 29%
C) 41%
D) −29%

Question

Quizplus · Accepted Answer

The relative percentage change is calculated as ((New Value - Old Value) / Old Value) * 100. Here, ((1040 - 1470) / 1470) * 100 = (-430 / 1470) * 100 ≈ -29%.

A Professor's Checking Account Balance a Year Ago Was $1470