The next model of a sports car will cost 3.7% less than the current model. The current model costs $48,000. How much will the price decrease in dollars? What will be the price of the next model?
Decrease in price: $
Price of next model:$
The decrease in price will be 3.7% of $48,000, which is (3.7/100) * $48,000 = $<<3.7/100*48000=1776>>1776.
The price of the next model will be $48,000 - $1,776 = $<<48000-1776=46224>>46,224. Answer: \boxed{1776$} and \boxed{46,224$}.