Answer
Due to consumers and businesses detecting and resolving identity fraud more quickly, the total amount lost by victims of the fraud in the United States decreased by $12 billion. The percentage decrease was 20%. The average rate of change was 3 billion per year.
Work Step by Step
The change in the amount lost = 60 billion - 48 billion
=12 billion
The percentage change =$\frac{final value}{initial value}*100$
=$\frac{12000000000}{60000000000}*100$
=$\frac{1}{5}*100$
=20%
Average rate of change per year
=$\frac{totalchange}{duration of change}$
=$\frac{12000000000}{2008-2004}$
$\frac{12000000000}{4}$
=$3 billion
