See Description, What is an inequality that expresses the fact that the new, decreased price of a co-op is less than what you owe a bank.

Question

Mikey borrowed $120,000 from the bank when he bought his co-op for $156,000. The price dropped x dollars since he bought it. He now owes the bank $114,000, which is more than he could sell the co-op for. What is an inequality that expresses the fact that the new, decreased price of the co-op is less than what Mikey owes the bank. 

 

 

Answer 1

Alexis,

 

Price of co-op after drop in price is $156,000 -x

 

This is less than what he owes the bank, i.e. $114,000

 

so 156000-x < 114000

or x > 42,000