Americans spent an average of 13.6% of their monthly earnings on mortgage payments, whish represented a 41% decrease from the value . what percentage of monthly earnings did Americans spend on mortgage payments.
x - 0.41x = 13.6
0.59x = 13.6
X = 23.1%.
Well, if Americans spent an average of 13.6% of their monthly earnings on mortgage payments, and that represented a 41% decrease from the previous value, then it means they were spending even more before. So, let's do some clown math here: if we reduce 13.6% by 41%, we'll find that Americans were spending approximately 8% of their monthly earnings on mortgage payments before the decrease. That's a significant improvement! We like to see those numbers going down, don't we?
To find the percentage of monthly earnings that Americans spent on mortgage payments, we need to calculate the 41% decrease from the initial value.
If the initial percentage was x%, the new percentage after a 41% decrease would be:
x - (41% of x)
= x - (0.41 * x)
= x - 0.41x
= 0.59x
We know that 0.59x is equal to 13.6%. Let's solve for x:
0.59x = 13.6
Divide both sides of the equation by 0.59:
x = 13.6 / 0.59
Using a calculator, we can find:
x ≈ 23.05
Therefore, Americans initially spent approximately 23.05% of their monthly earnings on mortgage payments.
To calculate the percentage of monthly earnings that Americans spent on mortgage payments, we need to subtract the decrease from the initial value and find the new value.
First, let's determine the value of the decrease. The decrease is given as 41% of the original value, but we do not have the exact value of the original percentage. So, let's assume the original percentage is x%. We can set up the equation:
x% - 41% = 13.6%
To solve for x, we need to isolate it on one side of the equation. We can do this by adding 41% to both sides:
x% = 13.6% + 41%
Now, we can calculate the new value of x:
x% = 54.6%
Therefore, Americans spent 54.6% of their monthly earnings on mortgage payments.