A community for students.
Here's the question you clicked on:
 0 viewing
anonymous
 one year ago
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.
anonymous
 one year ago
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.

This Question is Open

jim_thompson5910
 one year ago
Best ResponseYou've already chosen the best response.1Monthly Rate of Decay = (Annual Rate of Decay)/12

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0@nincompoop @pooja195 @Astrophysics

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0−0.006924% −0.006667% −0.666667% −0.6924% These are the answer choices..... I tried doing it, but my answer was not one of these

jim_thompson5910
 one year ago
Best ResponseYou've already chosen the best response.1Annual Rate of Decay = 8% Monthly Rate of Decay = (Annual Rate of Decay)/12 Monthly Rate of Decay = (8%)/12 Monthly Rate of Decay = ???

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0My textbook confused me a lot sooooo ill give it my best shot, \[A=P(1+r ^{1/c})^{c*t}\] Is that the equation? @jim_thompson5910 If so, i just need help finding A, which i am very confused about

jim_thompson5910
 one year ago
Best ResponseYou've already chosen the best response.1you're overthinking

jim_thompson5910
 one year ago
Best ResponseYou've already chosen the best response.1you just divide 8 by 12

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0yes i know for the monthly rate btw wouldn't it btw 0.08/12 because it is 8% @jim_thompson5910

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0oh wait, do you mean dividing 0.08/12 is all i do for the monthly rate

jim_thompson5910
 one year ago
Best ResponseYou've already chosen the best response.1well they leave things in percentages

jim_thompson5910
 one year ago
Best ResponseYou've already chosen the best response.1so (8%)/12 = 0.667%
Ask your own question
Sign UpFind more explanations on OpenStudy
Your question is ready. Sign up for free to start getting answers.
spraguer
(Moderator)
5
→ View Detailed Profile
is replying to Can someone tell me what button the professor is hitting...
23
 Teamwork 19 Teammate
 Problem Solving 19 Hero
 Engagement 19 Mad Hatter
 You have blocked this person.
 ✔ You're a fan Checking fan status...
Thanks for being so helpful in mathematics. If you are getting quality help, make sure you spread the word about OpenStudy.