Sure, let's work through this step-by-step:
1. Identify the initial amount:
The initial amount given is \[tex]$70.
2. Determine the percentage decrease:
We need to decrease the amount by 20%.
3. Calculate the decrease amount:
To find the amount that represents 20% of \$[/tex]70, you multiply [tex]\(70\)[/tex] by [tex]\(0.20\)[/tex] (since 20% is the same as 0.20 in decimal form).
[tex]\[
\text{Decrease amount} = 70 \times 0.20 = 14.0
\][/tex]
4. Calculate the new amount after the decrease:
Subtract the decrease amount from the initial amount:
[tex]\[
\text{New amount} = 70 - 14.0 = 56.0
\][/tex]
So, the amount decreases by \[tex]$14.0, resulting in a new total of \$[/tex]56.0.
