In 2011, Americans spent an average of 13.6 % of their monthly earnings on mortgage payments, which represented a 41% decrease from the value in 2006 ; what percentage of monthly earning did Americans spend on mortgage payments in 2006?

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 64SE: A car was valued at 38,000 in the year 2007. By 2013, the value had depreciated to 11,000 If the...
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In 2011, Americans spent an average of 13.6 % of their monthly earnings on mortgage payments, which represented a 41% decrease from the value in 2006 ; what percentage of monthly earning did Americans spend on mortgage payments in 2006?

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