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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.

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  1. jim_thompson5910
    • one year ago
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    Monthly Rate of Decay = (Annual Rate of Decay)/12

  2. anonymous
    • one year ago
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    @dan815

  3. anonymous
    • one year ago
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    @nincompoop @pooja195 @Astrophysics

  4. anonymous
    • one year ago
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    −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

  5. jim_thompson5910
    • one year ago
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    Annual Rate of Decay = 8% Monthly Rate of Decay = (Annual Rate of Decay)/12 Monthly Rate of Decay = (8%)/12 Monthly Rate of Decay = ???

  6. anonymous
    • one year ago
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    My 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

  7. anonymous
    • one year ago
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    @legends

  8. jim_thompson5910
    • one year ago
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    you're overthinking

  9. jim_thompson5910
    • one year ago
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    you just divide 8 by 12

  10. anonymous
    • one year ago
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    yes i know for the monthly rate btw wouldn't it btw 0.08/12 because it is 8% @jim_thompson5910

  11. anonymous
    • one year ago
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    oh wait, do you mean dividing 0.08/12 is all i do for the monthly rate

  12. jim_thompson5910
    • one year ago
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    well they leave things in percentages

  13. jim_thompson5910
    • one year ago
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    so (8%)/12 = 0.667%

  14. anonymous
    • one year ago
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    Oh ok thanks :)

  15. jim_thompson5910
    • one year ago
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    np

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