Question

A car cost $20,000 when it was purchased. The value of the car decreases by 8% each year. Find the rate of decay each month and select the correct answer below.

Answer 1

I think you will want to set (1-.08)^1=(1-monthly decay)^12 to find the decimal monthly decay and then multiply by 100 to get the monthly decay rate in percent.

Answer 2

okay thanks, can you help with one more?

Answer 3

Sure

Answer 4

@Evoker

Answer 5

Back sorry

Answer 6

no prob

Answer 7

Looks like step 4 the calc work

Answer 8

thanks

Answer 9

oops, actually looks like the used ln, so it's actually at step 5