question 10 (12.25 points)\nyou decided to move from putnam county, tn to jackson, tn. based on the percent…

question 10 (12.25 points)\nyou decided to move from putnam county, tn to jackson, tn. based on the percent change for housing in the cost of living calculator, how much can you expect to pay for rent in jackson if you paid $1,097.95 for rent in putnam county?\nwhere do you live? putnam county, tennessee \nwhere do you want to live? jackson - madison county, tennessee \nwhats your salary? $55000\nbased on your current salary and lifestyle in putnam county, your jackson - madison county salary would need to be: $53,599 which is 3% ↓\ncost of living breakdown\nthese categories are auto - filled based on an average of what people spend. type in your own numbers for a more accurate comparison.\ncost\tincrease / decrease\nhousing\t6% ↓\nutilities\t0% ↑\nfood\t0% ↓\ntransportation\t4% ↑\nhealth care\t0% ↓\nlifestyle\t4% ↓\nenter the dollar amount rounded to the nearest cent.\nyour answer:\nanswer

question 10 (12.25 points)\nyou decided to move from putnam county, tn to jackson, tn. based on the percent change for housing in the cost of living calculator, how much can you expect to pay for rent in jackson if you paid $1,097.95 for rent in putnam county?\nwhere do you live? putnam county, tennessee \nwhere do you want to live? jackson - madison county, tennessee \nwhats your salary? $55000\nbased on your current salary and lifestyle in putnam county, your jackson - madison county salary would need to be: $53,599 which is 3% ↓\ncost of living breakdown\nthese categories are auto - filled based on an average of what people spend. type in your own numbers for a more accurate comparison.\ncost\tincrease / decrease\nhousing\t6% ↓\nutilities\t0% ↑\nfood\t0% ↓\ntransportation\t4% ↑\nhealth care\t0% ↓\nlifestyle\t4% ↓\nenter the dollar amount rounded to the nearest cent.\nyour answer:\nanswer

Answer

Explanation:

Step1: Identify the percentage change for housing

The housing cost in Jackson - Madison County is 6% less than in Putnam County. The percentage as a decimal is $0.06$.

Step2: Calculate the new rent amount

The formula to calculate the new amount when there is a percentage decrease is $A = P(1 - r)$, where $P$ is the original amount, $r$ is the rate of decrease. Here, $P=$1097.95$ and $r = 0.06$. So, $A=1097.95\times(1 - 0.06)$. $A = 1097.95\times0.94$ $A=1032.073$

Answer:

$1032.07$