Recently, the value of Dillon's college savings fund decreased by $5,758. If his fund was worth $5,807 before, how much is it worth now?
Understand the Problem
The question is asking for the current value of Dillon's college savings fund after a decrease of $5,758 from its previous value of $5,807. We can solve this by subtracting the decrease from the original amount.
Answer
The current value of Dillon's college savings fund is $49.
Answer for screen readers
The current value of Dillon's college savings fund is $49.
Steps to Solve
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Identify the values to use in the equation We know that Dillon's fund originally was worth $5,807 and it decreased by $5,758.
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Set up the subtraction equation We can express the current value of the fund as: $$ \text{Current Value} = \text{Original Value} - \text{Decrease} $$
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Substitute the values into the equation Now we substitute the known values: $$ \text{Current Value} = 5807 - 5758 $$
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Perform the subtraction Calculate: $$ \text{Current Value} = 5807 - 5758 = 49 $$
The current value of Dillon's college savings fund is $49.
More Information
This problem highlights the importance of understanding how to perform basic subtraction in financial situations. Knowing the current value of savings is critical for financial planning.
Tips
- Forgetting to subtract correctly and mixing up addition and subtraction operations.
- Not paying attention to the units (dollars) which may lead to confusion.
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