Question

a new truck that sells for $28,000 depreciates 13% each year. What is the decay factor?

Answer 1

hint: if it decays r% each year, then the decay factor is 1 - (r/100)

Answer 2

can you please explain the answer step by step

Answer 3

in this case, r = 13

Answer 4

so...

1 - (r/100)

1 - (13/100)

1 - 0.13

0.87

so the decay factor is 0.87