Answer: £11,279.53
Step-by-step explanation:
Given
In 2007, the price of the house was £119,995
Price decreases by 9.4%
[tex]\Rightarrow \text{Current Price}=\text{Old Price}-9.4\%\text{Old Price}\\\Rightarrow 119,995-9.4\%\ \text{of}\ 119,995\\\Rightarrow 119,995(1-0.094)=119,995\times 0.906\\\Rightarrow 108,715.47[/tex]
Price decreased by 119,995-108,715.47=£11,279.53
