## 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

1. anonymous

So yearly decay is *0.92^x (when x=year), per month would just be a 12th of that

2. anonymous

$P=20000\times 0.92^{\frac{ m }{ 12 }}$

3. anonymous

The decay depends on the current price not the original

4. anonymous

im confused

5. anonymous

−0.006924% −0.006667% −0.666667% −0.6924%

6. anonymous

7. anonymous

Its B then :/ now im confused

8. anonymous

oh wait its A

9. anonymous

$1-(0.92^{\frac{ 1 }{ 12 }})$

10. anonymous

=0.006924

11. anonymous

ohok i get it now. thank you